We stay apprised of changes in the law and within Louisville Bankruptcy Attorney the banking industry that may impact the business decisions lenders make regarding extensions of credit and foreclosures. Consider talking to a local foreclosure attorney or legal aid office to learn about your rights. A lawyer can also tell you about different ways to avoid foreclosure. Foreclosure is a process that begins when a homeowner who has borrowed money to buy a house fails to make their mortgage payments. The bank or mortgage company can take back a home to satisfy the mortgage debt. A deficiency judgment means that you will then pay the difference to the lender.

 

Our national directory features foreclosure and mortgage lawyers in every state and major metropolitan area. Kentucky is a judicial foreclosure state, which means that foreclosure cases go through the court system and the lender must file a lawsuit to foreclose on the property. The court will attempt to determine the circumstances surrounding the default through in-court hearings and documents filed by the homeowner and lender. The homeowner will also have the opportunity to try to negotiate a way to avoid losing avoid foreclosure. If the process proceeds to the foreclosure sale, a few things can happen.

 

I personally prepare your consumer bankruptcy, foreclosure defense, or small business bankruptcy case. We usually have two consultations a free consultation for 2 hours and 2-3 hours with you to ensure your petition is perfect. Bankruptcy attorneys should never pass clients off to a paralegal or inexperienced junior lawyer after the law firm collects. The LII Lawyer Directory contains lawyers who have claimed their profiles and are actively seeking clients. If you default on your mortgage payments in Kentucky, the servicer (on behalf of the loan owner, called the “lender” in this article) will eventually begin a foreclosure. Kentucky law specifies how foreclosures work, and both federal and state laws give you rights and protections throughout the process.

 

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Throughout the process of foreclosure, it is vitally important to work with a skilled foreclosure attorney. It can be difficult to navigate court processes on your own, but working closely with an attorney will help things move more smoothly. Kentucky’s state foreclosure laws require that all foreclosures must be judicial.

 

So, the plaintiff immediately wins when Defendant fails to raise factual and legal issues properly and admits the debt is owed. You must have both legal and raise factual issues to be decided to delay foreclosure. The truth is, it takes time to sell a home or avoid foreclosure. Fighting a foreclosure or filing bankruptcy gives you that time.

 

The foreclosure law process for consensual and non-consensual liens are similar. For instance, we can strip judicial liens which are not consensual if it impairs your equity in a bankruptcy. However, we can also strip a second mortgage which is a consensual lien if there is no equity for the lien to attach. In Kentucky, lenders file foreclosures in the property’s county, which may or not be the county the owner lives in. Chapter 13, on the other hand, could save your home altogether. This chapter allows you to set up a payment plan rather than liquidating your assets to pay back your creditors.

 

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With the help of our knowledgeable and experienced lawyers, you can take the necessary steps to get back on your feet again. One inevitable challenge in any business is collecting what one is owed. McBrayer represents numerous lending institutions, business creditors and individuals in commercial collection and foreclosure matters. Our attorneys and staff stand ready to assist our clients from a simple demand letter to highly complex litigation.

 

At Hirsch Law, there’s no judgment — only compassion, respect, and understanding. With a distinguished group of attorneys and legal assistants working alongside sophisticated, experienced business professionals, our workforce is the heart of MDK. Facing the threat of mortgage foreclosure can be devastating. Our legal team will work to defend your home and explore options to keep it. Our experienced attorneys in Louisville, KY, will help you navigate the complexities of debt collection and protect your rights.

 

Kentucky Solutions talked with my mortgage company and made all the arrangements for me so I wouldn’t lose my house. As wonderful as they are, I hope I never need their services again. Our family was facing foreclosure and Kentucky Solutions was able to buy our house even though we had no equity. Our lawyers can handle development projects through all phases.

 

To keep the house, the homeowner can file for Chapter 13 bankruptcy to catch up on the mortgage and stop the foreclosure. It is possible to obtain a deficiency judgment against the borrower for the difference between the amount the borrower owed on the federally backed mortgage loan and the foreclosure sale price. But only if the borrower is personally served with the lawsuit and then loses the lawsuit, or fails to answer.

 

These are just some of the reasons to consult with an attorney if you’re facing a foreclosure. Stites & Harbison has a rich tradition of pro bono service in the communities where our attorneys work and live. Our firm has been recognized annually by the Nashville Bar Association for its pro bono contributions. In Louisville, we were recognized as a Public Service Challenge Pacesetter by the Louisville Pro Bono Consortium, based on the firm’s commitment to devote 50 hours per lawyer annually to pro bono publico causes. Tax law covers issues involving federal, state, and local taxes for individuals and businesses, ranging from compliance and tax avoidance strategies to audits, tax debts, and disputes with tax authorities. A loan default occurs when you fail to do what the mortgage note requires.

 

If the couple is married they can each file a Chapter 7 delaying it a year. At O’Bryan Law Offices, our attorneys educate individuals and families across Kentucky and Southern Indiana on their options to pursue debt relief and asset protection. With over 50 years of combined experience, we offer one-on-one guidance throughout an uncertain time. If you are dealing with a foreclosure, you will have to decide if you want to fight it and if it will be worth it to pay for an attorney’s help.

 

I am an experienced lawyer focusing on bankruptcy relief for foreclosures, small businesses, consumers, and tax debt. In 2005 I purchased two investment properties and rented them both out. When the market went down, I could no longer afford either property but I also could not sell them either so I got behind on my mortgage payments. I contacted Kentucky Solutions and they were able to take them BOTH off my hands for less than what I owed by doing a Short Sale, and I don’t owe anyone a dime! My problems are solved and the foreclosure is stopped—Amazing!

 

Our Foreclosure Department is staffed by skilled real estate attorneys licensed to practice in the states of Ohio, Kentucky,Indiana and West Virginia. Foreclosure defense offers options for a homeowner who falls behind on a mortgage, such as alleging lender misconduct or negotiating a loan modification, repayment plan, forbearance agreement, or short sale. If you’re facing foreclosure and you want to defend against it, working with a foreclosure attorney is your best bet.

 

They are different tools for different purposes to provide a future with finances free from the debt and stress from a foreclosure or collection lawsuit. Chapter 13 is perfect for saving a home, defending a private student loan lawsuit, and managing tax debts. Chapter 7 is usually best for debtors with little equity in homes and assets and less than average incomes. Let us be your advocate when it comes to saving your home, protecting your paycheck, and helping you obtain the debt relief that you need.