The Kentucky Judicial process of Foreclosure permits the borrowers a period of 20 days to respond to court summons failing to which the foreclosure may be awarded to lenders.
- In cases of foreclosure of high-cost home loan, the lender has to issue a notice to the borrower at least 30 days prior to the date of filing the foreclosure.
- The redemption for sale will be available after a period of six months from the date of sale.
- The sale value of the property should be less than two thirds of the appraised value.
- The home owner will be required to pay the foreclosure amount plus an escalation of 10%.