You can find out what your grace period and late fees are Louisville Foreclosure Attorney by looking at your promissory note. This information will also be on your mortgage statement each month. As unpleasant as it seems, it is essential to stay on top of the issue. You should keep in mind that banks typically don’t want to take your Louisville home.

Prior to the foreclosure crisis in 2010, borrowers didn’t have much in the way of protection against foreclosure. In fact, many state and federal laws actually favored mortgage servicers instead of homeowners. However, state and federal mortgage servicing laws have since been updated to provide more protections for borrowers.

However, you will still have to catch up on your house payments if you want to keep your property. But if you respond to the lawsuit, the case will go through the litigation process. The lender might then request the court to grant summary judgment. A summary judgment motion asks that the court grant judgment in favor of the lender because the case’s critical aspects aren’t in dispute.

KY Solutions made the process so simple and was very thorough answering any questions. I would recommend Kentucky Solutions to anyone seeking to sell their home even if they feel they have no equity in it. Get the help you need to recover from a difficult financial position through bankruptcy.

Real Estate Law

McBrayer offers a range of options for our clients who need to collect on the obligations of their customers or borrowers, whether in a consumer or commercial context. McBrayer regularly represents local and regional banks, mortgage lenders, and non-profit housing agencies in collection and foreclosure matters. McBrayer also frequently represents large and small businesses and individuals in collection matters. Our attorneys are experienced in defending lenders from allegations of bad faith or lender liability, which sometimes arise when creditors seek to enforce their rights. McBrayer strives to efficiently handle collection and foreclosure cases in accordance with Kentucky law and local procedures.

How Can A Louisville, Kentucky Attorney Help?

Explore AllLaw’s library of free legal articles, or get connected with an attorney. Likewise, a HUD-approved housing counselor can provide helpful information (at no cost) about various alternatives to foreclosure. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. This procedure allows you to sell your home even though the proceeds will be less than what you still owe. It is up to the lender as to whether you will still be responsible for the deficit or whether they waive it. We understand that the memories you’ve made there are what truly made your house your home, and we want to do everything we can to help you preserve that.

Filing for Chapter 13 bankruptcy is another option available for homeowners. You will have to prepare a repayment plan for your creditors and have it approved by your bankruptcy trustee. As with Chapter 7, you’ll get an automatic stay when you file, and it will last as long as the bankruptcy proceedings are in effect. However, you do have to prove you have enough income to not just keep up with your current monthly payments, but also to pay back your arrears over the course of 60 months maximum.

At Hirsch Law, we believe that educating prospective clients is the foundation for a successful bankruptcy filing. Click on the questions below to learn how bankruptcy can protect your home, car, wages, and more. We make it a priority to ensure that each of our clients feels respected, heard, and understood.

If the lienholder does not file the Lis Pendens, a good faith purchaser may take the property free of a mechanic, trustee, or judgment lien. If someone purchases the property after a Lis Pendens, the buyer has notice of the pending litigation, and the foreclosure continues. Continue to research Kentucky foreclosure laws and come back often for new information!

Some states treat mortgages as “non-recourse loans.” A non-recourse loan is one that is secured by the borrower’s property, but for which the borrower is not personally liable. Basically, this means that a lender in a foreclosure can take the house that was mortgaged, but nothing else. If the house sells for less than the lender is owed, it cannot go after the borrower.

Banks typically want sell the property quickly, for as much money as possible. This law firm website and legal marketing are managed by MileMark Media. Foreclosure can happen out of the blue- a sudden job loss or a financial burden making it impossible to pay our mortgage. Saving homes and other property from potential foreclosure is a specialty of our firm that is highlighted through our growing number of successful foreclosure defense cases. Three Federal Banking studies prove the rich use the code to increase their wealth.