Kentucky Servicing Reference Guide
- Kacey Olson
Owned by Kacey Olson
| Citation | Topic | Requirement |
| Interest and Usury / Ky. Rev. Stat. Ann. §360.100(2) | Notice of Right to Cure Default (High-Cost Home Loans) | A lender may not initiate a foreclosure or other judicial process to terminate a borrower's interest in residential real property subject to a high-cost home loan without first providing the borrower, at least 30 days prior to the initiation of any process, written notice of default and of the borrower's right to cure. The notice must include a statement of the amount needed to be paid by the borrower in order to cure the default and the date by which the payment is due to cure the default. If the amount needed to be paid will change during the 30-day notice period, the notice must provide information sufficient to enable a calculation of the daily change. |
Notice of Sale | All public sales of any kind of property sold under execution, judgment or decree, must, unless otherwise agreed upon by the parties, be advertised by publication pursuant to Chapter 424. The advertisement must state the time, place and terms of sale and describe the property to be sold. The newspaper advertisement will not be necessary where the appraised value of the property to be sold is less than $100. In addition, the officer making the sale must advertise the time and place of sale by written notice describing the land to be sold, posted at the courthouse door and 3 other places in the vicinity of the land for 15 days preceding the sale. |