Kentucky foreclosure

The Kentucky foreclosure process is always a judicial process. This means that in order to foreclose on your property, the lender or its representative will have to file a lawsuit in the court where your property is located.

Once this lawsuit is filed, a notice of lis pendens is recorded and a copy is sent to your last known address. Once you receive or are served with this notice, you are given 21 days to pay off the amount owed (months in arrears plus attorney fees, etc.) or send in a response to the lawsuit.

If you don't respond or if you don't take care of the amount owed, then the judge will order that the house be sold at the courthouse steps.

Before the sale can occur, the sale will have to be advertised by the clerk of courts for 3 consecutive weeks in a newspaper in the county where the property is located.

Like all judicial foreclosure proceedings, Kentucky's will take 3 months or more to complete.

Once they do foreclose, you'll have up to 12 months to redeem the property. This means that you can get the property back if within this 12 month period you are able to come up with enough money to pay the amount for which the property was sold, plus interest.

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