Understand every path. Choose your own.

Sell your home for cash

An as-is cash sale lets you sell without making repairs or hosting showings. Forward Key Homes can close in 7–14 days when title and closing requirements are met. We give you an offer in writing so you can see what you would receive after your mortgage and any other amounts due are paid.

The trade-off: a cash offer may be less than a traditional market sale. Selling also means moving. Compare the net proceeds and your next housing costs—not just the offer price.

Explore a short sale

A short sale is a sale for less than the amount owed on your mortgage. Your lender has to approve it. We help negotiate with your lender and organize the paperwork, but approval is never guaranteed.

Ask whether your lender will release you from any unpaid balance, and get the answer in writing. A short sale can affect your credit and may have tax consequences. It often takes longer than a cash sale.

Consider a reverse mortgage, age 62+

A Home Equity Conversion Mortgage (HECM) is a reverse mortgage for eligible homeowners age 62 or older. It lets you borrow against home equity while living in your home, generally without required monthly mortgage payments. An existing mortgage must be paid off, often using the new loan’s proceeds.

It is still a loan. Interest and fees increase your balance and reduce remaining equity. You must keep paying property taxes and insurance, maintain the property, and meet primary-residence requirements. Failing to do so can lead to foreclosure. The loan generally becomes due when the last borrower sells, dies, or no longer uses the home as their primary residence, subject to applicable spouse protections.

Work with your lender to stay

A loan modification changes the terms of your existing mortgage. Depending on your lender and eligibility, that might mean extending repayment, changing the interest rate, or adding past-due amounts to the balance. A lower payment can come with a longer repayment period or higher total interest.

Forbearance temporarily reduces or pauses payments. It does not erase the money you owe. Before accepting, ask exactly how and when missed payments must be repaid, and whether fees or interest continue. Contact your mortgage servicer directly and ask about all available assistance programs.

Understand a deed in lieu

A deed in lieu of foreclosure is an agreement to transfer your home to the lender instead of completing a foreclosure. The lender must agree, and other liens on the property may make it harder to arrange.

You give up ownership and usually need to move. Do not assume it cancels all remaining debt. Ask for a written release, discuss any relocation assistance, and review the credit and possible tax effects with independent professionals.

If you do nothing: the Indiana process

Missing a payment does not mean losing your home overnight. For many mortgages, federal rules generally prevent the first foreclosure filing until you are more than 120 days behind, though exceptions apply. Indiana also generally requires a pre-suit notice at least 30 days before an eligible residential foreclosure filing. These periods may overlap; they are not extra time you can safely add together.

Indiana uses a court process. If a lawsuit is filed, you receive court papers with deadlines. Eligible homeowners can request a settlement conference, generally within 30 days of receiving the summons. Read your actual notice and ask a lawyer or the court about your rights and the steps to request one.

If the case continues, it can lead to a judgment and sheriff’s sale. The total time varies with the loan, notices, court schedule, and case. There is no guaranteed number of months. Fees and missed payments may grow, and foreclosure can affect your credit and future housing.