Mortgage foreclosures in Louisville Kentucky happen far too often. Events like divorce, death in the family, disability, and job loss tend to cause foreclosures. In fact, this might happen from even small mistakes like forgetting to pay the property taxes resulting in a foreclosure. When that happens, you will find that the bank often only cares about the payment and their profit.
Stop your Mortgage Foreclosure in Louisville Kentucky
Since 1991, I’ve handled mortgage foreclosures in Jefferson County Circuit court in Louisville, Kentucky. Since 2000, I take only bankruptcy and foreclosure cases. That’s over 20 years of my 30+ years of being an attorney. We also have some of the highest ratings in the nation for satisfied clients according to AVVO, three best-rated, and Google where you can not buy a high rating.
⎆ Making the foreclosure process decision.
Even the best people can find themselves unable to cover their mortgage payments. If you miss mortgage payments for two months or longer, you go into foreclosure. With a foreclosure, you face a simple financial decision.
- Keep the home.
- Let it go back.
We help you properly go down one of those two paths based on what is best for you; not what is best for the bank. We believe that your obligation to yourself and your family is higher than any obligation to your creditors. That’s why we show you the options you need to make the right decision.
We defend foreclosures if you need time to stay in the home, modify your mortgage, rent, or sell it. Defending a foreclosure requires fighting the foreclosure in state court by filing an answer, discovery, requesting mediation, and responding to any summary judgment or trial.
Defending your foreclosure might require filing bankruptcy. Bankruptcy delays the foreclosure and gives you time to sell the property or find a different home. Bankruptcy stops and avoids any 1099 income tax debt and collection of a deficiency judgment.
If you want to keep the home, we often file a Chapter 13, which allows you to catch up on the payments over time. Chapter 7 eliminates the unsecured debt making the home affordable, or Chapter 13 affordable. People often file Chapter 7 first to make Chapter 13 affordable.
You may need time to obtain a mortgage modification or workout agreement. We provide that time.
⎆ Stop your mortgage foreclosures in Louisville, Kentucky now.
It is possible to stop, delay, or avoid stop a foreclosure. If you receive a court summons or les Pendens, then the foreclosure process has started. After that, you have 20 days to file your answer. After 20 days, you lose some rights you don’t get back. Then, you have about 60 days after that to file discovery. After 60 days, you again lose advantages and rights.
Homeowners who attempt to handle the foreclosure themselves often either speed the process up or cost themselves money by admitting they owe the debt and are in default. The bank’s attorneys work for the banks, not you. Also, he won’t tell you how to sue the bank properly. In fact, they record your conversations to be used against you later in court.
⎆ Working with your foreclosure attorney.
The debtor collector will tell you about the options they want you to choose from. He won’t tell you about options they don’t want you to take, like suing them back or filing bankruptcy. You need a proper foreclosure attorney and defense which allows you one or more of the following:
- Rent the home.
- Sell the home.
- Attempt a mortgage modification.
- A short sale of the home.
- Reside in the home while you search for another home.
- Do a Deed in lieu and give the home up.
- Avoid a judgment against you.
- Do a workout agreement to put the arrearage onto the principle.
- A cash for keys option may be available to pay you money to surrender the home.
- Avoid tax debt.
- Avoid code violations that may cost you fines or even jail. As long as the property is in your name, you are responsible for maintenance and lawsuits, even from trespassers. Even filing bankruptcy does not automatically get the property out of your name.
⎆ Hire an experienced foreclosure attorney.
Mortgages and foreclosures are an area of the law where most attorneys have little or no experience. It takes a lot of time and experience to work in this area of law. I was married to a mortgage banker for over 15 years. I also worked in lending and defended foreclosures for over 20 years. Your attorney must have a strong knowledge base of the following:
- TILA truth in lending
- Fair Debt Collection law
- CFPB and lending rules.
We teach other lawyers how to handle these subjects. Nevertheless, we do not recommend defending against foreclosure on your own. The stakes are too high. By filing your answer or discovery, you often overlook defenses and admit items you shouldn’t. After that, often the damage can not be undone. Hiring a professional to fight on your behalf against the lender is the best you can do to ensure that you won’t miss an opportunity to save your home. Even the average attorney does not have the experience or knowledge a more seasoned professional possesses.
⎆ Let us save your home.
Letting the home go back might not be the best choice, and you might not have to let it go back. Even if you do want to make it go back, it might cost your thousands to let it go back the wrong way. However, you might be able to live in it for a long time if you do it correctly. We are here to help you successfully defend a foreclosure – if you let us. In the early stages, you have at least six different methods to stop a foreclosure. Depending on the case, it might be best for you to file Chapter 13 or Chapter 7 bankruptcy. We will prepare the documents correctly and at the right moment to do everything within the law to ensure you keep the property.
⎆ Call now and get a free consultation.
Time is of the essence. You only have 20 days to file your answer after you are served. You need to submit your discovery within about 60-90 days after that. A delay or mistake may be fatal for your Foreclosure case. We offer a free foreclosure consultation. Let us explain and discuss your situation, the law, and the possibilities. The more knowledgeable and prepared you are, the better your chances and results. Get the help you need by calling 502-625-0905 now.
If you are thinking about filing bankruptcy, don’t delay because timing is crucial. I am here to help you. So, contact my office right away to start the conversation. Nick C. Thompson, Bankruptcy Lawyer: 502-625-0905.