Call the mortgage servicer and the lawyer or Master Commissioner named in your papers. Contact a Kentucky foreclosure attorney and a HUD-approved housing counselor. A buyer's offer does not pause the case.
Start With the Court Record
Kentucky uses judicial foreclosure. The lender files a court action, and the property may later be ordered sold through the county's Master Commissioner process. Case dates vary. Confirm the complaint, response deadline, judgment, sale order, advertised sale date, and confirmation status from the court file and qualified counsel.
Do not assume that ownership can be transferred at any moment before confirmation. Title, court orders, payoff requirements, liens, signatures, and sale status must all allow a closing. A lawyer and title company should review any proposed contract promptly.
Compare Options That May Keep or Transfer the Home
The Consumer Financial Protection Bureau advises borrowers to contact the servicer immediately about available loss-mitigation options. Depending on the loan and facts, possibilities may include repayment, forbearance, modification, refinance, a standard sale, lender-approved short sale, or deed-in-lieu. None is universally available.
When a Sale May Work
A standard sale generally needs enough money to satisfy the mortgage payoff and other required amounts. The title company reviews ownership and liens, obtains payoff information, coordinates required signatures, and prepares the settlement statement. Counsel should confirm what the foreclosure court and lender require.
If the expected price is below the required payoff, a normal sale cannot simply erase the difference. A short sale needs the lender's written approval. The approval should address the remaining balance, release, reporting, and other conditions; tax consequences may also apply.
Kentucky's Redemption Rule Is Conditional
KRS 426.530 may provide six months to redeem only when the judicial sale price is below two-thirds of the appraised value. The statute requires the purchase money, ten percent annual interest, and reasonable costs. Ask a Kentucky foreclosure attorney whether the rule applies; do not treat it as a general post-sale deadline.
What a Mortgage Forfeiture Offer Means
- Property review: Roger reviews condition and relevant market information.
- Written terms: Compare the price, conditions, and cost allocations with other options.
- Title and payoff: A title company checks ownership, liens, and lender payoff requirements.
- Estimated net: The settlement statement shows price, costs, payoffs, taxes, prorations, and expected proceeds.
- Closing confirmation: Only a completed funded closing and the required lender or court confirmation determine whether the foreclosure sale is stopped.
Mortgage Forfeiture charges no company fee or agent commission. Mortgages, liens, taxes, prorations, and other required payoffs can still reduce seller proceeds. No credit, deficiency, lender-approval, or closing outcome is guaranteed.
Official Help
Related Resources
- How Foreclosure Works in Indiana and Kentucky
- Kentucky Foreclosure Timeline Guide
- Selling When Behind on Payments in Kentucky
- What Is an As-Is Sale?
Reviewed August 26, 2026. General information only; not legal, tax, credit, or foreclosure-rescue advice.