1. A copy of the RECORDED Deed of Trust
2. A copy of the Note
3. A copy of the RECORDED Assignments, if applicable
4. Breakdown of the Arrearages, i.e. date the delinquency started, monthly payments, monthly late charges, and any other costs that may have been paid, i.e. taxes, insurance, property inspections, etc.

The only method of foreclosure in Kentucky is judicial.

The Judicial Foreclosure Process is generally followed, with a few changes, as outlined below.

The first step in a judicial foreclosure is to determine who are the other interested parties in the property being foreclosed. This is done by a foreclosure report from a title company. A notice of the foreclosure lawsuit is filed in the real estate records. All interested parties are served with a copy of the summons and complaint. Generally, to serve an interested party means to give to him a copy of the summons and complaint in any manner reasonably calculated, under all of the circumstances, to apprise him of the existence and pendency of the foreclosure lawsuit and to afford him a reasonable opportunity to appear and assert his point of view.

If any interested party interposes objections to the foreclosure, the court must resolve these objections. If no objections are filed by any interested party, the court will enter a judgment of foreclosure approximately forty-five (45) days (60 days if the U.S.A. is a party) after all interested parties have been served.

In Kentucky it is required that all service be handled by the Sheriff, not a private process server. Should a defendant not be served, a Warning Order Attorney must be appointed by the Courts. This process is in lieu of service by publication and mailing, as is the standard in most other judicial states.

When judgment and order of sale are submitted, both the Judge and the Master Commissioner (an appointed official in each county) must approve of the judgment’s entry. Once the judgment is entered, the Master Commissioner will begin the sale process, and acts as the auctioneer at the time of sale.

One particular requirement of Kentucky has to do with appraised value. As part of the sale process, the Master Commissioner orders an appraisal. If the successful bid at the foreclosure sale does not exceed 2/3rds of this appraisal, then a one year redemption period goes into effect. If the bid exceeds 2/3rds of the appraised value, there is no redemption period.

*Allowed to reschedule and re-advertise 3 times, approximately 30 days.
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Important Notice
Kleinsmith & Associates, P.C. operates within Fannie Mae fee schedules and timelines and will provide the same coverage as a “FNMA Network Certified” law firm. Should any loss or damage occur as a result of a mistake by our firm during the foreclosure process, which we cannot rectify, Kleinsmith & Associates, P.C. will indemnify the servicer against any loss or damage.