ARE YOU FACING FORECLOSURE?
If you’re struggling to keep up with your mortgage payments and facing foreclosure, you’re not alone.
Many homeowners in Kentucky find themselves in this situation due to unexpected financial hardships.
The good news?
YOU HAVE OPTIONS!
Whether you’re looking to sell your home quickly, list it for sale, or explore other alternatives to foreclosure, I’m here to help.
HOW FORECLOSURE WORKS IN KENTUCKY
Missed Payments
Foreclosure typically begins after a homeowner has missed three or more mortgage payments, 90-120 past due.
Pre-Foreclosure Notice
The lender sends a letter, warning that foreclosure proceedings may begin if the loan is not brought current.
Filing of Foreclosure Lawsuit
The lender files a lawsuit.
If no response is filed, the court may grant a default judgment, allowing the foreclosure to proceed. If a response is filed, a hearing is scheduled.
Judicial Sale Ordered
If the court rules in favor of the lender, the home is scheduled for sale at a public auction by the County Master Commissioner’s office.
Redemption Period
In Kentucky, homeowners have a six-month redemption period to buy back their home. after a foreclosure sale, if the property is sold for less than two-thirds of the Master Commissioners appraised value.
Eviction Process
If the homeowner does not vacate the property voluntarily, the new owner or lender, can file for eviction.
You Have Options – Let’s Find the Best One for You!
Foreclosure doesn’t have to be the end of your homeownership journey. Whether you want to sell your home quickly, list it on the market, or explore foreclosure alternatives, I’m here to help.
ALTERNATIVES TO FORECLOSURE
Facing foreclosure doesn’t mean you’re out of options. Here are some possible solutions:
• Sell quickly for cash if you need an immediate solution.
• List your home on the market for maximum value and time to move on your terms.