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 Kentucky Bankruptcy Lawyer 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.
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.
O’bryan Law Offices Can Help If You Are Facing Foreclosure
Case details that can effectively describe the legal situation while also staying concise generally receive the best responses from lawyers. Greg is a member of the Fayette County, Kentucky, and American Bar associations as well as the American Bankruptcy Institute. Active within the community, he also conducts presentations on a variety of bankruptcy and commercial topics primarily directed at business professionals. His presentation topics include bankruptcy stay, preferential transfers/fraudulent conveyances, sale of assets in Chapter 11, and loan workout and foreclosure issues. In addition, Greg has served as an Adjunct Professor at Transylvania University and an Instructor at the American Institute of Banking.
Corporate Law Blog
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.
Lawyers with longer memberships tend to have more experience so we use the Membership date to help prioritize lawyer listings on search pages. Assets can be things like a second car that has been paid off or jewelry. If you sell them, you could use the cash to help reinstate your loan. Even if these efforts don’t significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home. In Kentucky, lenders and judicial liens foreclose on homes in Circuit Court. Interestingly, other states use a deed of trust to foreclose a home.
Our firm represents both investors and lenders and works diligently toward a swift resolution for our clients. Our foreclosure attorneys are knowledgeable about the entire foreclosure process, including intake, title review, litigation, title claims and foreclosure sales. We understand and navigate state laws and local procedures while upholding the best interests of our clients.
We can assist with the contract to acquire property, either as a direct purchase or as an option, and to form a limited liability company (LLC) for that purpose. After success in planning and zoning, we can do ground leasing and follow the project through to its completion. Each year Premier Bankruptcy Lawyers (PBL) researches and recommends leading bankruptcy lawyers across the United States. PBL lists only one attorney and firm in each city and inclusion to the guide is by invitation only. In this article, you’ll find details on foreclosure laws in Kentucky with citations to statutes so you can learn more. How courts and agencies interpret and apply the law can also change.
Then, the homeowner can work on a loan modification, partial claim, or workout with the bank while the home is in Chapter 13. Filing an answer and discovery also allows the homeowner time to pursue alternatives such as selling the home. Usually, a mortgage company files a Lis Pendens, which is a notice of pending litigation at the start of the case. The purpose is to notify potential buyers of the property pending litigation.
Our Bankruptcy Attorney, Tracy L. Hirsch, has 23 years of experience, and has filed over 2,000 cases. Her attention to detail and extensive knowledge of local bankruptcy rules, means that things are done correctly the first time. With MDK, you’re working with a firm that serves clients better than expected and beyond the ordinary. We create uncommon paths to success for our clients and ourselves.
While keeping your home might not always be possible, an Attorney can increase your odds of success, and help you minimize the negative impact if you do end up losing your home. Many borrowers are unaware that they have certain rights and protections under state and federal law. Most attorneys are well aware of these protections, and will inform homeowners of their legal rights. Therefore, not only will we inform you of your rights, but we will also help you defend them.
At Hirsch Law, we can help homeowners keep their homes through bankruptcy, loan modifications, short sales, or a deed in lieu of foreclosure. The thought of losing your permanent residence can be emotionally draining. You may have thought it would never happen to you – foreclosure. Yet, you are now faced with this real possibility, and are looking for ways to avoid having your house taken away from you. If you’re wondering if you can stop a foreclosure in Louisville, Kentucky, the answer is “yes.” Filing for bankruptcy is one of many viable options to save your home. Under Kentucky law, the new owner from the foreclosure sale gets the right to possess the property after giving you a 10 days’ notice in writing.
This gives borrowers ample time to submit a loss mitigation application. Missing one mortgage payment often does not lead to foreclosure. Once you default, your servicer must send you a notice of default. This is usually done once your payment is overdue by at least 30 days.
