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Banks - bring along the note if you want to foreclose in Kentucky

By
Real Estate Agent with Harvest Realty

As we look for changes that might result from the Repogate foreclosure fiasco, there are actions being taken by courts might give some indication of the future.  Kenton County, Kentucky will start requiring that foreclosure filings be accompanied by a copy of the note, as well as recorded mortgage and assignments.

According to an article in DS News, these requirments will be effecitve with new filings starting November 15.

As courts around the country review their own procedures, it would not be surprising if requirments similar to those in Kenton County, Kentucky will be considered.

Show All Comments
Eric Kodner
Wayzata Lakes Realty: Eric Kodner Sells Twin Cities Homes - Minnetonka, MN
Wayzata Lakes Realty: Twin Cities, Madeline Island

More states and municipalities need to follow suit and adopt this requirement.

Oct 26, 2010 05:06 AM
Dan Rosenberger
Harvest Realty - Westfield, IN

Eric - It would not surprise me to see something like this being very common in a few months.  As some court systems take the lead, their policies will be looked at by other courts. 

Oct 26, 2010 05:09 AM
Chris Dugger
Real Estate Marketplace - Louisville KY - Louisville, KY
Louisville REALTOR

Dan ~ It would be nice to see such requirement taken up by other counties/states. Had some clients who were foreclosed on in mid-Sept and have received no communication in the 6 weeks since the sale date...there should be some requirements on communication once the sale has taken place...they have no idea what to do or when they need to do it!

Oct 26, 2010 02:18 PM
Dan Rosenberger
Harvest Realty - Westfield, IN

Chris -  I think that other areas will examine their procedures and some will use the Kenton County requirements as a pattern.  If the clients are still in the home, they might want to be ready to move on short notice.  Banks are not known for ability to communicate, are they?

Oct 26, 2010 11:50 PM
Scott Hayes
(512) 786-8300 - Austin, TX
Realty Austin, Broker Associate

Dan,

 

Anything that can get this foreclosure game more organized, and consistent will be a much needed addition

Oct 29, 2010 01:29 PM
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