Louisville Kentucky Foreclosure Help, Defense, Laws and Process


Kentucky Law states that complaint initiating foreclosure action must be filed in a course court where the estate is situated. There is a pending law suit where notice of action is filed and sent to the defendant.

The defendant is then given 21 days to respond but if there is no response the claimant then moves for a mortgage and a motion is then made for a judgment.

Kentucky foreclosure law of sale occurs at least ones a week for consecutive three weeks in a circulating newspaper and must state the sum of cash for which the sale is to be made and property is to be sold on the courtyard steps.

The law continues to say that the supplier has around 1 year to compensate for the property by repairing credit for which the property is sold.

Judicial foreclosure in Kentucky states that any employer whose assets have been levied upon will have the right to pay the cash that has accumulated together with the expense of the proceeding.

After the sale of the property all sum is assessed by the council but unpaid for the unit share of the common expenses that constitutes charge upon personal property for satisfaction on such unit prior to other debts expect liens for taxes and assessments.

Stop Foreclosure in Kentucky, Louisville

Kentucky foreclosure is handled in court and the only exception is with abandoned properties where a lender has to take possessions ones a borrower defaults.

Complaint and notice of pending auctioned are filed to start foreclosure process and attorney delivers notice of the pending suit the borrower who is given twenty days to answer.

The borrower will look for government help from the agencies of foreclosure to find ways and advice of solving his problem of foreclosure.

The lender will be forced to ask the court to make a ruling if the borrower does not respond, and if the court rules against the borrower a foreclosure date for sale is set.

In notice of sale auction the sale occurs one month after the ruling of the court and this notice must contain date, site and conditions of the sale.

A borrower might decide to look for mortgage help to stand as a security for him thus making the court to issue an order of postponement of the sale.

If there is no court order to stop the sale, the sale is carried on and conducted by court official or government assistance and the exercise is done at the court of law where the highest bidder purchases the asset.

Purchaser can pay in cash or decides to pay in installments to avoid running bankruptcy and after the sale a motion for approve is heard and the deed is arranged and presented to the clerk.

The borrower has the right to redeem the property from the buyer if the sale price is less than two thirds of appraised value.

Kentucky, Louisville Foreclosure Process

  • Kentucky states that suit be filed by the lender in a course court for the region where the property is situated.
  • For avoidance of being blamed a complaint must be served to the borrower who is then given 21 days to respond.
  • A default judgment is confirmed by court in the event where there is no response or if the borrower appears and found to be in default.
  • If the borrower sees that he can not be able to pay his debt in good time, he can then talk to his bank for a loan modification and avoid a foreclosure.
  • Deficiency judgment is allowed to borrowers who were personally served with complaint and failed to appear.