Our experienced attorneys in Louisville, KY, will help you navigate the complexities of debt collection and protect your rights. The organizations below Kentucky Bankruptcy Lawyer provide individuals with free or low-cost legal assistance with real estate issues in the Louisville, Kentucky area. However, many mortgages, like the uniform Fannie Mae/Freddie Mac mortgage, give the borrower the right to cure the default after acceleration and reinstate the loan. Check your loan documents to determine if you get a reinstatement right and, if so, the deadline to complete one.
When the mortgage payment is three months past due, the lender will file the notice of default with the County Recorder’s Office. Once this notice has been filed, the pre-foreclosure process has begun. Following a summary judgment, the property is scheduled for a master commissioner sale, where it will be auctioned off to the highest bidder. These foreclosure sales are typically conducted by a court-appointed commissioner and are advertised in local newspapers. If the homeowner does not file a bankruptcy prior to the sale the only remaining right the homeowner has is the right of redemption.
Kentucky Foreclosure Rescission, Right Of Redemption, And Truth In Lending Act (tila)
Your attorney will work with you to determine your best options and help you avoid foreclosure if possible. Our national directory features foreclosure and mortgage lawyers in every state and major metropolitan area. Reimer Law Co. was originally founded in 1971 by Dennis Reimer. In addition, the Firm specializes in handling litigation, evictions, REO, collections, deeds in lieu of foreclosure and other loss mitigation services.
Our family was facing foreclosure and Kentucky Solutions was able to buy our house even though we had no equity. If the judge signs the order, the case is sent back to the commissioner’s office to prepare the notice of sale and two appraisers are sent to do a drive-by inspection of the property. The notice of sale is posted at or near the property in foreclosure and advertised in the local paper three times in the three weeks prior to the sale. In the United States, bankruptcy is governed by federal law, commonly referred to as the “Bankruptcy Code” (“Code”).
The Supreme Court case states that you don’t have to file the lawsuit within those three years. When the Jesinoskis sued 4.5 years later they asked for damages from Countrywide for the failure to provide the notices. Find your loan documents (mortgage and note) and read them so you know what your lender may do if you can’t make your payments. Communication between you and your lender is perhaps the most important way to avoid foreclosure.
If you need a competent Louisville bankruptcy lawyer to help you with any issue concerning consumer or business bankruptcy, look no further than Schwartz Bankruptcy Law Center. If you have been served with a foreclosure complaint and need your interests protected, our attorneys and staff are prepared to take the appropriate measures to timely file a response on your behalf. We monitor the ongoing court action and report the status to you. We provide our expertise in determining bidding options, obtain first mortgage payoffs if applicable, and apply for, and obtain excess funds when available. The foreclosure process normally takes less than six months if no answer is filed.
There are about 120 different federal and state laws and defenses to a complaint, from the statute of limitations to fraud. If you do not assert them in the initial answer, you lose affirmative defenses forever. Just filing a good answer will almost always delay the foreclosure by 6 months. Until the property is actually sold to a new owner, the homeowner could still find a work out solution with the servicer. There is no legal requirement that a servicer must work with the homeowner.
Many people have to refile their Chapter 13 case, convert to a Chapter 7, or lose property because an attorney did it wrong. 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.
When Does Foreclosure Start In Kentucky?
State foreclosure laws are often highly complex, and these cases require special knowledge and experience to handle properly. Our creditors’ rights and foreclosure team often calls upon the knowledge of the firm’s real estate and transactional attorneys for support, including our in-house title examination staff. Our law firm is well prepared to continue to serve the client if a collection matter becomes a bankruptcy matter, as often happens.
Resources For Bankruptcy
Aligned with MDK’s mission and values, Chris views the firm as a catalyst for innovation and problem-solving. He embraces a “team-first” mentality and actively contributes to creating innovative solutions to address clients’ diverse challenges. Chris interprets MDK’s mission as providing him with the resources and freedom to think outside the box and develop creative approaches to assist clients effectively. This dedication to collaboration translates seamlessly into his daily work.
Facing a foreclosure proceeding can cause a lot of stress, but working with an attorney helps. Don’t try to tackle this complicated and stressful process on your own. Let an experienced lawyer from O’Bryan Law Offices evaluate your foreclosure case and inform you of your legal rights.
If you’re behind in payments and have mounting debt, then you’re facing one of the most difficult challenges a person can face. Fortunately, if you find yourself in this situation, you’re in the right place. Schwartz Bankruptcy Law Center is here to help you get your life back.
The Only Louisville Zip Code Guide You’ll Ever Need exploringlouisville.com ? When the property transfers out of your name these maintenance items are no longer your responsibility. Also, when the property transfers, many of the items such as the property taxes are paid. It was a tough situation we were in and we really appreciate your assistance. I was able to keep my house after my wife passed away…Kentucky Solutions is a life saver. Whether you need help planning for your family or you are dealing with the loss of a loved one, we can help.
Where novel or complex issues arise in a seemingly routine case, our experienced attorneys and staff are prepared to identify them and deal with them. 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. Take the debtor education class after filing bankruptcy to get the discharge from creditors and become debt free. Foreclosure can happen out of the blue- a sudden job loss or a financial burden making it impossible to pay our mortgage.
Rather, you need one that helps you select the best solutions for your facts and situation. 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. Often it still leaves you with a deficiency and/or tax problems.
