Foreclosures Kentucky Mortgage Loan

There are many ways to stop a Foreclosure in Kentucky.  It may be possible to save your Kentucky home from foreclosure by getting your mortgage refinanced.  If you still have a good credit rating and the foreclosure has not yet been filed in a Kentucky court you may qualify for refinancing.  Persons with substantial equity or income can sometimes refinance their home without a credit check. 

But you never want to refinance your home if the new interest rate will be substantially higher.  There are lenders in Kentucky that will help.  But there are also lenders that offer what are called predatory loans that target foreclosures and minorities and steal your home equity or charge high interest, refinance fees, contain packing and high origination fees.  These loans are normally legal methods to steal your home.  Prime rate mortgages in Kentucky are possible for a few people that act quickly before the foreclosure process goes too far. 

In some cases a relative with good credit may purchase your home and allow you to make the payments in what is called a short sale.  never allow a stranger to purchase your home.   Many of these “offers” are scams that allow someone to strip the home, or rent it out for long periods of time delaying the foreclosure and costing you in the long run.    Call us for more information for a free consultation on how your home can be saved. 

Nick C. Thompson Louisville Kentucky Foreclosure Attorney