Our belief has always been that the quality of a peer review survey is Louisville Foreclosure Attorney directly related to the quality of the voters. Recognition by Best Lawyers is based entirely on peer review. LOUISVILLE- Stites & Harbison has had long and celebrated relationships with a myriad of agencies and service organizations in the community. As a result of the breadth of pro bono services provided and our long-standing financial commitment, the Legal Aid Society named Stites & Harbison “Outstanding Law Firm of the Year” in 2009.
Franklin County Foreclosure Defense Lawyers
This happens when a debtor in Louisville, Kentucky has repeatedly failed to make their payments. A sale happens in less than 90-days if an answer is not filed. However, mortgage companies will often discuss your right to save the home with a mortgage modification workout or partial claim. A mortgage modification may not be your best option if rates have increased. Homeowners may also attempt to file an answer with the Court.
But..you got the bank to agree to a reduced price and we closed on the house yesterday. I feel like the weight of the world has been lifted off my shoulders. You made it a very easy process for me, even with all of my skepticism and stressing out.
Real Estate Law
In the following sections, we briefly outline the Kentucky foreclosure process. Generally, loan servicers must provide borrowers with loss mitigation opportunities. They must also strictly adhere to state and federal foreclosure laws. So, if you’re behind on your mortgage payments in Kentucky, you still have options. Understanding the full Kentucky foreclosure process is crucial if you want to save your home and regain control of your finances. Morgan & Pottinger’s foreclosure attorneys handle complex commercial real estate foreclosure and residential real estate foreclosure proceedings throughout Kentucky and Southern Indiana.
While my situation has yet to be resolved, and may not be possible to resolve at all, I submitted a signup form and was contacted immediately. Here is an excellent Timeline showing what the typical Foreclosure Timeline/Process looks like in Louisville, Kentucky. In Jefferson County, there are so many foreclosures that the timeline is usually much longer. However, this gives you a really good idea of what will take place.
Bankruptcy allows individuals, couples, and businesses that cannot meet their financial obligations to be excused from repaying some or all of their debt. If you have questions regarding bankruptcy law contact one of our recommended attorneys today. The lender usually makes a bid on the property using what’s called a “credit bid” rather than bidding cash. With a credit bid, the lender gets a credit up to the amount of the borrower’s debt. The highest bidder at the sale becomes the new owner of the property.
In most Kentucky cases, the lender will receive a deficiency summary judgment. We mentioned deficiency judgments in a previous section, but now we’ll go into more detail. A deficiency judgment occurs if the foreclosed home sells for less than the borrower owes on it. As an example, let’s say that you owe $450,000 on the home, but it only sells for $350,000 as the foreclosure sale price. If you are facing the possibility of foreclosure, a good Louisville, Kentucky real estate Attorney can help. At the very least, they will be able to inform you of your legal options.
If the commissioner recommends the court should grant the motion, and the judge agrees, the court will enter a judgment for the lender. If the court grants summary judgment for the lender—or you lose at trial—the judge will order the home sold at a foreclosure sale. By law, a lender is allowed to initiate Kentucky home foreclosure proceedings after you have missed only three mortgage payments. The foreclosure becomes public record once the lender sends you notice of the intent to foreclose. Don’t pay fees for foreclosure prevention help – use that money to pay the mortgage instead. Many for-profit companies will contact you promising to negotiate with your lender.