Case details that can effectively describe the legal situation while also staying concise generally receive the best responses from lawyers. Greg is Louisville Foreclosure Lawyer a member of the Fayette County, Kentucky, and American Bar associations as well as the American Bankruptcy Institute. Active within the community, he also conducts presentations on a variety of bankruptcy and commercial topics primarily directed at business professionals. His presentation topics include bankruptcy stay, preferential transfers/fraudulent conveyances, sale of assets in Chapter 11, and loan workout and foreclosure issues. In addition, Greg has served as an Adjunct Professor at Transylvania University and an Instructor at the American Institute of Banking.

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Consensual liens like a mortgage voluntarily give the lienholder an interest in the property. The non-consensual liens include tax, mechanic, and judicial liens, which can also result in foreclosure. Both Kentucky or Indiana are judicial foreclosure states, meaning foreclosure requires court action.

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!

Filing Chapter 7 Chapter 13 Bankruptcy • Video – Nick C Thompson

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.

Foreclosure Legal Services

We spend time with you to ensure you achieve your needs, get a fresh start, and get out of debt. We do less than 20 cases monthly to ensure each client gets the needed attention, debt relief, and a better future. Take control of your situation and contact Winton & Hiestand Law Group, your trusted partner in protecting the rights of consumers. Our team of skilled attorneys are here to offer their legal expertise and guidance, ensuring that you can have peace of mind and relief from the stresses of legal battles. Many people whose vehicles have been repossessed believe they do not have any rights because they fell behind in the payments. Even if you defaulted on your auto loan, you still may have certain rights in the vehicle under the law.

Our belief has always been that the quality of a peer review survey is 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.

A Kentucky property owner has only twenty days after service with the complaint to file the answer. A default judgment happens when Defendant fails to file a response. You may or may not be allowed additional time to file your response by showing a reason for the delay.

Filing an answer delays the foreclosure sale for about six months or longer. Filing discovery often delays the foreclosure for another six months or longer. Please note the Defendant homeowner must file discovery within two months after the answer. Together, an answer and discovery often delay the foreclosure sale for a least a year. Filing a Chapter 7 or 13 after that will delay it another six months.

To recommend or link to this lawyer as a trusted attorney, we have provided a list of sample links. Prior to working for the firm, Greg worked for the Federal Energy Regulatory Commission in Washington, DC, in the office of the General Counsel, Enforcement Section, as a trial attorney (1985 – 1987). He is also a graduate of the Enforcement Training Program of the U.S. Securities and Exchange Commission and has also spoken at various seminars.

When the Commissioner receives property for sale, the property will be appraised by two disinterested parties. This appraisal determines the value and redemption amount of the property. The owner cannot redeem the property if it sells for more than the redemption value. A sale for more than the redemption value extinguishes the property owner’s right of redemption. The defendant has a short amount of time to pay the buyer the redemption price to recover the property. Circuit courts will often send the case to the Commissioner, who will make recommendations on issues to the Court.

A foreclosure lawyer will evaluate your case, determine the right defense strategy, and explain your options to you so that you can make an informed decision. If possible, they can help you avoid foreclosure by the bank or the mortgage company. Our staff is trained to identify and report all possible loss mitigation opportunities to our Home Retention Department. Tailored to your unique needs, we gather specific information to permit the client to evaluate each case for settlement opportunities. Whether a reinstatement, a workout, or a short sale, our staff is prepared to gather the correct information for a decision by the client.

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.

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.

“Individuals who file experience a sharp boost in their credit score after bankruptcy, whereas the recovery in credit score is much lower for individuals who do not file for bankruptcy.” Take the debtor education class after filing bankruptcy to get the discharge from creditors and become debt free. We provide free legal advice and representation for low-income, disabled, and elderly clients in legal crises that threaten self-sufficiency or quality of life. Our team of fully certified, legal professionals represents low-income, disabled, and elderly clients in legal crises that threaten self-sufficiency or quality of life. Kentucky Legal Aid is responsible for providing legal services to 35 counties.

You may be able to save your home for a few more months, which could give you the breathing room you need to prevent the sale altogether. We recommend speaking with a Chapter 7 lawyer for more information on how this chapter of the Bankruptcy Code can help you. As a last resort, you might consider a “short sale,” which results in loss of the home, but it typically leads to a great deal of the debt on the mortgage being forgiven. Typically, a short sale in Kentucky involves selling the house for whatever price it can fetch. The proceeds from the sale go to the lender, and if it sells for less than what’s left on the mortgage, the balance of the debt is forgiven. Many people have to refile their Chapter 13 case, convert to a Chapter 7, or lose property because an attorney did it wrong.