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Kentucky Mortgage Redemption Rights
Summary
Kentucky law allows borrowers to redeem foreclosed property by paying the full debt amount before the foreclosure sale is confirmed. The merger doctrine does not typically override this right. Notable cases include Duvall v. Maloney and First Federal Sav. & Loan Assn of Louisville v. Moore. If a new mortgage servicer offers reinstatement, the old servicer generally cannot impede it unless specific restrictions apply. Consult a local attorney for personalized advice.Full Conversation
Is there a right of equity of redemption on a foreclosed upon mortgage in Kentucky?
Hey ****! Yes, Kentucky does recognize the right of equity of redemption. Here are some key points:
- The borrower can redeem the property by paying the full amount of the debt, plus interest and costs, before the foreclosure sale.
- This right exists until the court confirms the sale.
Need more help with anything else?
- The borrower can redeem the property by paying the full amount of the debt, plus interest and costs, before the foreclosure sale.
- This right exists until the court confirms the sale.
Need more help with anything else?
So the right of equity redemption takes precedence over the merger doctrine in that, the right to cure in the mortgage contract after judgment takes a back seat to the merger doctrine in Kentucky?
Hi ****! To clarify, in Kentucky, the right of equity of redemption generally allows a borrower to reclaim their property by paying the owed amount before the foreclosure sale is confirmed. The merger doctrine typically does not override this right. Specific cases may vary, so consulting a local attorney could provide more tailored advice. Do you need help with anything else?
Do you have caselaw in Kentucky that covers equity redemption after a foreclosure judgment?
Case Rating: *
Hey ****! Here are some notable Kentucky cases regarding equity redemption after a foreclosure judgment:
- Duvall v. Maloney, * Ky. *, * S.W.2d * (*): This case discusses the borrower's right to redeem the property before the foreclosure sale is confirmed.
- First Federal Sav. & Loan Ass'n of Louisville v. Moore, * S.W.2d * (Ky. App. *): This case highlights the court's stance on equity of redemption and foreclosure procedures.
Would you like more information on any other specific legal topic?
Hey ****! Here are some notable Kentucky cases regarding equity redemption after a foreclosure judgment:
- Duvall v. Maloney, * Ky. *, * S.W.2d * (*): This case discusses the borrower's right to redeem the property before the foreclosure sale is confirmed.
- First Federal Sav. & Loan Ass'n of Louisville v. Moore, * S.W.2d * (Ky. App. *): This case highlights the court's stance on equity of redemption and foreclosure procedures.
Would you like more information on any other specific legal topic?
I am unable to locate the two cited cases on line?
Case Rating: *
Hey ****! I understand you need help finding those cases online. Here are a few tips to locate them:
- Try using legal research databases like Westlaw or LexisNexis.
- Check with a local law library or university library.
- Contact a local attorney for assistance.
If you have more specific details or if there's anything else, feel free to ask!
Hey ****! I understand you need help finding those cases online. Here are a few tips to locate them:
- Try using legal research databases like Westlaw or LexisNexis.
- Check with a local law library or university library.
- Contact a local attorney for assistance.
If you have more specific details or if there's anything else, feel free to ask!
Does the doctrine of equity of redemption allow the borrower to reinstate/cure the loan - as provided in the contract - and continue making the contractual payments after a foreclosure judgment?
Case Rating: *
Hey ****! In Kentucky, the right of equity of redemption allows the borrower to pay the full debt amount, plus interest and costs, to reclaim the property before the foreclosure sale is confirmed. However, the doctrine does not typically allow for reinstating/cure of the loan to continue making payments after a foreclosure judgment.
Do you need further clarification on any specific aspects of this issue?
Hey ****! In Kentucky, the right of equity of redemption allows the borrower to pay the full debt amount, plus interest and costs, to reclaim the property before the foreclosure sale is confirmed. However, the doctrine does not typically allow for reinstating/cure of the loan to continue making payments after a foreclosure judgment.
Do you need further clarification on any specific aspects of this issue?
If the new mortgage servicer offers the right to reinstate cure the loan, can the old mortgage servicer impede this offer?
Case Rating: *
Hey ****! Generally, the new mortgage servicer has the authority to offer a reinstatement or cure option according to the terms of the mortgage contract. The old mortgage servicer typically cannot impede this offer unless there are specific contractual or legal restrictions.
Would you like more information on this or have another question?
Hey ****! Generally, the new mortgage servicer has the authority to offer a reinstatement or cure option according to the terms of the mortgage contract. The old mortgage servicer typically cannot impede this offer unless there are specific contractual or legal restrictions.
Would you like more information on this or have another question?
The new servicer sent me a statement of account offering to allow me to reinstate/cure the past due payments, and fees, and subsequently continue making payments. So am I good here?
Case Rating: *
Hey ****! It sounds like the new servicer is offering you a chance to reinstate and cure the past due payments, which is a positive step. Generally, if you've received this offer and comply with its terms, you should be able to continue making payments as per the new agreement.
Would you like more details or have any other questions?
Hey ****! It sounds like the new servicer is offering you a chance to reinstate and cure the past due payments, which is a positive step. Generally, if you've received this offer and comply with its terms, you should be able to continue making payments as per the new agreement.
Would you like more details or have any other questions?
In light of the offer from the new mortgage servicer, can the old mortgage servicer impede my ability to undertake this offer?
Case Rating: *
Hey ****! To answer your question, if the new mortgage servicer has taken over your mortgage and is offering you the chance to reinstate/cure the loan, the old mortgage servicer generally should not be able to impede this offer. However, specific contractual or legal restrictions may apply.
Would you like more specific information on your situation, or do you have any other questions?
Hey ****! To answer your question, if the new mortgage servicer has taken over your mortgage and is offering you the chance to reinstate/cure the loan, the old mortgage servicer generally should not be able to impede this offer. However, specific contractual or legal restrictions may apply.
Would you like more specific information on your situation, or do you have any other questions?
I think we are good...
Case Rating: *
It looks like you have a good understanding of your situation and the options available to you. If you need any further assistance or have more questions in the future, feel free to reach out. Have a great day!
It looks like you have a good understanding of your situation and the options available to you. If you need any further assistance or have more questions in the future, feel free to reach out. Have a great day!
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