Kentucky Foreclosure Laws

Non-judicial foreclosures are not allowed in the state of Kentucky. In order for a judicial foreclosure to take place a suit must be filed by the lender in the circuit court for the district in which the property is located This will give the lender a judgment of foreclosure.

Once this has been accomplished a complaint must be served on the borrower who then in turn has 21 days to respond. In the event that there is no response from the borrower a default judgment is declared by the court.

In the even that that the borrower does appear and is found to be in default, a summary judgment and notice of sale are issued and the property is advertised for sale.

The notice of sale includes the balance due on the mortgage and will be published weekly for three consecutive weeks. Prior to the sale date, the property must be appraised, and if the sale price is less than two thirds of the appraised value, the borrower has one year in which to redeem the property by paying the sale price plus interest.

The length of time for this foreclosure to be completed varies widely in Kentucky and there is no way to get a feel for the average time frame to conclude it.

The borrower does have the right of redemption but the lender is only allowed to get a deficiency judgement against the borrower if the borrower was personally served with the actual complaint and then failed to respond to the complaint.

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