Kentucky Foreclosure Law KY
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Bankruptcy & Foreclosure
Manual.
A Deed in Lieu of Foreclosure is when you sign over the
Deed to the Mortgage company. They may agree in exchange
to not pursue you for the default. In some cases, you may be able to save yourself and the
mortgage company the expense and trouble of foreclosure and
bankruptcy.
Many people choice to litigate or stay in the free rent until the house is sold.
This allows people to
save up house payments they would have made to pay an amount
down on a new home or lease with an option to buy. Under
Kentucky laws and regulations most people will qualify for a
prime rate government mortgages 2 Years
after filing bankruptcy (if no foreclosure is involved) or 3
years after bankruptcy and foreclosure.
The Foreclosure process takes less than 6 months
if no answer is filed and 1 to 2 years if an answer is filed.
Even if you file bankruptcy under Kentucky law a foreclosure is required to
transfer the ownership to the bank. If you are stuck in a
foreclosure see us for foreclosure help.
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