View Cart | 0 Items in Cart | Checkout
    Stop Foreclosure Forms Forms Mission FAQ Links Information and News Contact  
     
 
 

 FORECLOSURE DEFENSE NEWS AND INFORMATION - Kentucky

 

Foreclosure defense forms must be drafted to comply with the laws of your State. Standardized forms for all States are generally not acceptable. We provide attorneys and you with the state-specific forms that are correct and valid. Free Previews available. All forms are available in Word format.





FIRST QUARTER 2009 FORECLOSURES IN KENTUCKY UP 10% OVER PRIOR YEAR, BUT FORECLOSURE MODIFICATIONS AND SHORT SALES MAY PROVIDE RELIEF TO HOMEOWNERS

2009-04-19







First Quarter 2009 Foreclosures in Kentucky Up 10% Over Prior Year, But Foreclosure Modifications and Short Sales May Provide Relief to Homeowners

Statistics released by the Associated Press show that the foreclosure rate in Kentucky continues to remain alarming. During the first quarter of 2009, Kentucky foreclosures increased 10%, to 1,735.00, from the first quarter of 2008. Although foreclosures in March were down slightly from April, it is widely predicted that the numbers will increase substantially during 2nd and 3rd quarters.

For many Kentucky residents, loan modifications represent a way to avoid the loss of their homes. Recently, Kentucky has made efforts to encourage modifications. On January 5, 2009, the State issued a press release to publicize its agreement with Countrywide to require modifications:

Attorney General Jack Conway today announced a settlement resolving allegations of predatory lending practices against Countrywide Financial Corporation. Kentucky has joined other states requiring this sub-prime lender to provide loan modifications to assist up to 395,000 borrowers nationwide from a foreclosure relief fund of $150 million. Of this amount, $1.64 million is reserved for Kentucky borrowers. Approximately 2,500 Kentuckians will be offered loan modifications to restructure their Countrywide mortgage loans. Countrywide, which was acquired by Bank of America this past summer, has agreed to restructure more than $262 million of outstanding debt owed by Kentucky borrowers under this agreement.

In addition to the efforts by state government in Kentucky, the Obama administration has announced initiatives intended to promote mortgage lenders to approve loan modifications and requested short sales. Requests for mortgage modifications or a short sales are easier to submit than most homeowners believe, and offer a way for homeowners to avoid foreclosure.

Mortgage Foreclosure Information and News for all Fifty States.

Select Your State

AlabamaAlaska
ArizonaArkansas
CaliforniaColorado
ConnecticutDelaware
FloridaGeorgia
HawaiiIdaho
IllinoisIndiana
IowaKansas
KentuckyLouisiana
MaineMaryland
MassachusettsMichigan
MinnesotaMississippi
MissouriMontana
NebraskaNevada
New HampshireNew Jersey
New MexicoNew York
North CarolinaNorth Dakota
OhioOklahoma
OregonPennsylvania
Rhode IslandSouth Carolina
South DakotaTennessee
TexasUtah
VermontVirgin Islands
VirginiaWashington
Washington DCWest Virginia
WisconsinWyoming



   

  Disclaimer
This compendium of mortgage foreclosure forms, information and news is provided to homeowners, legal organizations, and the general public as a free public service by Empire State Legal Forms, Inc. The information and forms provided on this site are not legal advice, but general information on legal issues commonly encountered. We are not a law firm, and our forms are not a substitute for an attorney or law firm. We provide legal forms at your specific direction. because the law changes rapidly, we cannot guarantee that all of the information on this site is completely current. The law is different from jurisdiction to jurisdiction, and may be subject to interpretation by different courts. The law is a personal matter, and no general information or legal tool can fit every circumstance. Furthermore, the legal information contained on this site is not legal advice and is not guaranteed to be correct, complete or up-to-date. Therefore, if you need legal advice for your specific problem, or if your specific problem is too complex to be addressed by our tools, you should consult a licensed attorney in your area.

  © 2017 Empire State Legal Forms, Inc. - All Rights Reserved.