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 Louisville Foreclosure Lawyer 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.

 

If you miss a payment, the servicer can usually charge a late fee after the grace period expires. Most mortgage loans give a grace period of ten to fifteen days, for example, before you’ll incur late charges. To find out the grace period in your situation and the amount of the late fee, review the promissory note or your monthly billing statement.

 

While our firm is bolstered through our professional associations, it is our internal processes that form the foundation for our foreclosure activities. Each foreclosure action begins with comprehensive title work. Each title survey includes a complete and accurate examination of the record title of the real property to be foreclosed. We identify all potential title issues, and more importantly, we propose and implement solutions.

 

Foreclosure is a judicial procedure allowing mortgage lenders to take ownership and/or possession of the debtor’s real estate (which was used to secure the loan) in the event of nonpayment in Louisville, Ohio. When a house is foreclosed, it is usually sold at auction shortly thereafter. This is because banks usually want to get rid of the property as soon as possible, even if it means losing some money, and an auction is an simple way to do this. Since 1991, I have practiced bankruptcy law and foreclosure defense in Louisville, Ky handling over 7,000 Chapter 7 and Chapter 13 cases and over 1,000 foreclosures.

 

We Stop Kentucky Foreclosures, Lawsuits, And Garnishments

 

We also offer services to assist our client’s with loss mitigation solutions. Our services include document preparation for forbearance and deed-in-lieu agreements, loan modification documents, and mutual indemnification agreements. We also obtain any additional tax or title information needed to complete the loss mitigation process, and we file the final documents for you. Kentucky is a judicial foreclosure state, meaning the foreclosure process is handled by the courts. First, the servicer will notify you that they intend to file a foreclosure lawsuit against you. If you fail to respond, the servicer can request a default judgment from the court, which allows them to proceed with the foreclosure sale.

 

At Hirsch Law, there’s no judgment — only compassion, respect, and understanding. With a distinguished group of attorneys and legal assistants working alongside sophisticated, experienced business professionals, our workforce is the heart of MDK. Facing the threat of mortgage foreclosure can be devastating. Our legal team will work to defend your home and explore options to keep it. Our experienced attorneys in Louisville, KY, will help you navigate the complexities of debt collection and protect your rights.

 

Forbes Law Offices

 

Our national directory features foreclosure and mortgage lawyers in every state and major metropolitan area. Kentucky is a judicial foreclosure state, which means that foreclosure cases go through the court system and the lender must file a lawsuit to foreclose on the property. The court will attempt to determine the circumstances surrounding the default through in-court hearings and documents filed by the homeowner and lender. The homeowner will also have the opportunity to try to negotiate a way to avoid losing avoid foreclosure. If the process proceeds to the foreclosure sale, a few things can happen.

 

Let’s say you have fallen behind on your mortgage payments, but the foreclosure process has yet to officially start. The servicer of your mortgage can begin to charge fees during this time. Some examples of these fees include late fees and inspection fees. However, your lenders are also required to send you a breach letter, as well as inform you of how you can avoid foreclosure.

 

I personally prepare your consumer bankruptcy, foreclosure defense, or small business bankruptcy case. We usually have two consultations a free consultation for 2 hours and 2-3 hours with you to ensure your petition is perfect. Bankruptcy attorneys should never pass clients off to a paralegal or inexperienced junior lawyer after the law firm collects. The LII Lawyer Directory contains lawyers who have claimed their profiles and are actively seeking clients. If you default on your mortgage payments in Kentucky, the servicer (on behalf of the loan owner, called the “lender” in this article) will eventually begin a foreclosure. Kentucky law specifies how foreclosures work, and both federal and state laws give you rights and protections throughout the process.

 

We help people file for bankruptcy relief under the Bankruptcy Code. Behind the talk of hearth and home, there exists a very real sentiment and attachment to your home. Now, in the midst of financial crisis, you face the possibility of losing your home. We have established relationships and continue to foster new ones with real estate development and management companies across the country that focus on student housing. These relationships enable us to efficiently put together plans and contracts that define student housing developments that work for the schools and for the students.

 

We stay apprised of changes in the law and within the banking industry that may impact the business decisions lenders make regarding extensions of credit and foreclosures. Consider talking to a local foreclosure attorney or legal aid office to learn about your rights. A lawyer can also tell you about different ways to avoid foreclosure. Foreclosure is a process that begins when a homeowner who has borrowed money to buy a house fails to make their mortgage payments. The bank or mortgage company can take back a home to satisfy the mortgage debt. A deficiency judgment means that you will then pay the difference to the lender.