Avoid Home Foreclosures
Kentucky Help
Click here for your free
Bankruptcy & Foreclosure
Manual.
One simple method to fight a bank foreclosure is
to file an answer to the complaint. In Kentucky
if a person fails to file any answer the Bank will
foreclose within about 3-6 months and a person will be evicted
after
default judgment. Filing an answer will often allow an
individual to stay in the home from 6 months to 2 years.
This allows the home owner the ability to try other options or
live in a property rent free while he finds a new home.
If you choose to file an answer the process is
often just delayed. It may be important to be
able to stay in the home for a year or two while the foreclosure
goes through the Kentucky court system. Fighting the
bank will increase the
attorney fees and bank charges however if the homeowner is
filing a Chapter 7 he will not owe any deficiency.
Fighting the bank in foreclosure makes catching up the
payments in a Chapter 13 harder by increasing the amount that
has to be paid back. It deducts from your
equity but if there is no equity in the property and your
eventual answer is a bankruptcy fighting in court is an
effective method to stay in the home longer.
There are many methods to avoid, stop or cure a
bank foreclosure and everyone's situation is different. If
you are stuck in a lawsuit see us for help.
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