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Kentucky Foreclosure Lawyer Defending Homeowners Rights

The threat of losing one’s home due to overwhelming debt is a horrible feeling. If you are a Kentucky homeowner facing foreclosure, you may have feelings of helplessness, anxiety, and even fear. Sadly, an increasing number of Kentuckians are finding themselves in this situation. There is help, and we are here to help you find relief and guidance through a strong defense with the representation of a foreclosure lawyer.

At the Canupp Law Office, we have helped many homeowners facing foreclosure. We provide you with the legal counsel to help you avoid foreclosure or that offers you the best chance for a brighter financial future. When you work with an attorney at our firm, you have the backing of many years of experience and knowledge regarding Kentucky mortgage law and foreclosures.

Foreclosure and for sale sales in front of a home.

Personalized Foreclosure Lawyer Defense

Canupp Law Office relies upon legal tools, tactics, and transactions to help resolve your financial crisis. A foreclosure lawyer will use their defensive skills, including asserting your rights under state law, federal law, the bankruptcy code, or even the tax code. This defense may include direct negotiations with your lender to seek a voluntary loan modification.

“Short sales” or a “deed in lieu of foreclosure” may also be utilized as a foreclosure alternative to protect your credit rating; there is even the possibility of a new loan when negotiations are handled well. Your situation is unique and deserves individual consideration, so review the following to get an idea of what questions we address to develop your game plan:

Is there a legal basis for a lawsuit against your lender or mortgage broker that could affect the foreclosure sale or the amounts owed? A good foreclosure lawyer is the first line of defense against property foreclosure.

We will have your original loan and settlement papers reviewed by our firm, or commission a full audit and review of loan documents and appraisals. The relationship of the parties involved in creating your loan (e.g., appraisers, title insurers) is sometimes below ethical standards and, if so, that gives you a valuable defense weapon.

Mortgage Information

  • If the loan were modified tomorrow, how much of a mortgage payment could you realistically afford to pay and still feed your family? Current income and expenses are key factors in negotiating a voluntary loan modification. Lenders are up to four times more likely to modify a loan if there is the risk of a lawsuit or bankruptcy. 
  • Can bankruptcy be used to wipe out your mortgage debts or restructure the payments? Second and third mortgage liens can be “avoided” and wiped out along with credit cards under the bankruptcy code. 
  • Could you obtain a new home loan now or sometime within the next year? It’s rare; you need to have current equity and be willing to pay a very high-interest rate. However, you can refinance your way out of Chapter 13 after one year and borrow up to 97% of the value of your home through an FHA program. 
  • After a foreclosure or short sale, you could still owe the lenders, the IRS, and be liable for “junior liens” that are not paid off from a foreclosure sale. The tax implications for capital gains and income tax are very complex, and the cancellation of debt still leads to income taxes for most people despite the new law. Your foreclosure lawyer from Canupp Law Office will do their best to negotiate these terms.