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Kentucky Foreclosure Law
Stop Foreclosure in Kentucky - Stop Kentucky Foreclosure - Kentucky Foreclosure Help
Kentucky Foreclosure Facts
- Judicial Foreclosure Available: Yes
- Foreclosure Action: Complaint
- Security Instrument: Mortgage
- Timeline: 7 Months
- Right of Redemption: Yes (30 Days)
- Deficiency Judgments Allowed: Yes, but with restrictions, Lender Specific
- Homestead State: Yes
- Standard Attorney Fees: $ 1,100
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In Kentucky, lenders may foreclose on a mortgage in default by using the judicial foreclosure process.
Judicial Foreclosure
Generally, in judicial foreclosure, a court decrees the amount of the borrowers debt and gives him or her a short time to pay. If the borrower fails to pay within that time, the clerk of the court then advertises the property for sale.
At some point prior to the scheduled date of foreclosure, an appraisal of the property must be made. If the foreclosure sale price is less than two-thirds of the appraised value, the borrower has a period of one year (12 months) from the date of the sale to redeem the property by paying the amount for which the property was sold, plus interest.
It is possible to obtain a deficiency judgment against the borrower for the difference between the amount the borrower owed on the original loan and the foreclosure sale price, but only if the borrower was personally served with the lawsuit, or failed to answer.
More information on Kentucky foreclosure laws.
Avoid and Stop Foreclosure in Albany, Alexandria, Ashland, Barbourville, Bardstown, Benton, Berea, Bowling Green, Brandenburg, Burlington, Cadiz, Campbellsville, Carrollton, Central City, Columbia, Corbin, Covington, Crestwood, Cynthiana, Danville, Edmonton, Elizabethtown, Erlanger, Flemingsburg, Florence, Fort Mitchell, Fort Thomas, Frankfort, Franklin, Georgetown, Glasgow, Grayson, Greenville, Harlan, Harrodsburg, Hazard, Henderson, Hindman, Hopkinsville, Hyden, Independence, Irvine, Jackson, La Grange, Lancaster, Lawrenceburg, Lebanon, Leitchfield, Lexington, Liberty, London, Louisa, Louisville, Madisonville, Manchester, Marion, Mayfield, Maysville, Mc Kee, Middlesboro, Monticello, Morehead, Morganfield, Morgantown, Mount Sterling, Mount Vernon, Mount Washington, Murray, Newport, Nicholasville, Owensboro, Paducah, Paintsville, Paris, Pikeville, Pineville, Prestonsburg, Princeton, Radcliff, Richmond, Russell, Russell Springs, Russellville, Salyersville, Scottsville, Shelbyville, Shepherdsville, Somerset, Springfield, Stanford, Tompkinsville, Versailles, West Liberty, Whitesburg, Williamsburg, Williamstown, Winchester
We are stopping foreclosure in Kentucky and helping people keep their homes
City: La Grange
State: Kentucky
Zip Code: 40031
Back in 2005 i changed jobs to what i thought was a better oppertunity as a result i filed a Chapter 13 to save my home. After doing so i stayed current for a while and recently i lost my second job and due to medical & car repairs i have been struggeling to get back on my feet. I originally fell a month or 2 behind and then made a payment or to by picking up odd jobs. Now i am a couple payments behind. But good news is i picked up a new second job and found a roommate to help out a little. I would like to save my home if possible. I did get a new P/T job, car is fixed and medical bills are taken care of. I am ready to start making my payments...Washington Mutual forclosure mitigation forum
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