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.  In a Chapter 13 bankruptcy a home mortgage may be refinanced to a lower rate after 1 year of repayment. However this is not normally possible if more is owed on a home than it is worth. If you still have a good credit rating and the foreclosure has not yet been filed you may qualify for mortgage refinancing.

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 to steal your home equity.  These loans charge high interest, early payoff or 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 plan or act 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.  Call us for more information for a free consultation on how your Owensboro Kentucky home can be saved.