Real Estate workouts are when we as attorneys contact your lender and explain to them that you have simply suffered a temporary problem and attempt to negotiate with them to allow you to pay the missed Real Estate payments at the end of your contract.   Other Real Estate workouts are often possible, such as, lowering interest rates for a short period of time, making partial payments or catching up by making 1.5 payments rather than foreclosure.  The FDIC Foreclosure Modification program is here.  We can file an answer to your foreclosure to give you additional time to do a work out with your mortgage company or file a bankruptcy to help avoid or stop the foreclosure.  Here is a general time timeline of the foreclosure process. 

Although the collection department may not negotiate with you, they often will negotiate if you sue them back in the foreclosure. They will also sometimes negotiate if we send a pre-foreclosure letter explaining that we will fight to protect your rights to the property if they don't avoid the foreclosure by negotiation.

Workouts don't always stop real estate foreclosures. But it can be very expensive to a mortgage company to file a foreclosure in a Kentucky Court and most Kentucky mortgage companies will do anything to avoid a foreclosure battle. Real Estate Workouts are a good option for both the mortgage company and the home owner to avoid the costs of foreclosure.  However, if a real estate workout is not possible, a bankruptcy almost always is possible to save the home.  If you are stuck in a foreclosure see us to avoid your real estate foreclosure.   Please beware of Rescue scams claiming to help you stop a Kentucky foreclosure.

If you have had a lawsuit filed against you then seek an attorney immediately to answer the lawsuit or file a bankruptcy to save your home.   If you have not had a foreclosure lawsuit filed against you this is the link to the state of Kentucky's stop foreclosure website.