KY Foreclosure Buying Procedures
National Overnight
TODAY
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Last Week
4.51%
5.06%
3.24%
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The State of Kentucky primarily follows a judicial process for mortgage foreclosure.
The foreclosure property can be bought at a public auction of foreclosure sale which could take place anytime after five months of the owner receiving the notice of default.
A foreclosure property during the preforeclosure stage could usually be bought for lesser than what it would cost when it becomes Real Estate Owned.
If a public foreclosure auction sale results in a foreclosure property selling or less than the amount that underlines the mortgage, the lender receives a deficiency judgment.
