WSJ: "The States Of Foreclosure"

Today's Wall Street Journal contains an interesting opinion that "housing prices stabilize when lenders can enforce contracts" (in other words, foreclose).  Click here for the piece.  Although the article focuses upon residential real estate, its theme and theory apply with equal vigor to commercial properties.  As you read the opinion, you should remain mindful that Indiana is one of the country's 23 judicial foreclosure states.  Click here for a prior post about what that means.  The nature of Indiana foreclosure law rests, in part, upon the notion that Indiana follows the "lien theory" of mortgages.