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Foreclosures Jump To 12-Percent In Indiana

Last updated on Friday, July 17, 2009

(UNDATED) - Indiana foreclosures jumped 12-percent last month to their highest level in nine months.

Legislators are hoping some new laws on foreclosures reverse that trend.

As of July 1, state law bans prepayment penalties on adjustable-rate mortgages, to make sure people who want to get out of a bad loan can do so.

A second new law requires lenders to offer mediation before filing foreclosure papers.

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