Louisville foreclosure prevention launched - Business First of Louisville:

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Local judges have agreed not to requirew sales of homes in foreclosure before homeowners meet withtheirr lenders. Those homeowners who follow the program will learn abour options such as forbearancs agreements andloan modifications. “Havin a clear plan to follow will make this proces less traumatic and more educationalfor homeowners,” said Abramson in a news Last year, 3,264 foreclosures were files in Jefferson County, which resulted in 2,408 homes sold at a foreclosurd sale. If present trends foreclosure filings willapproach 5,000 by the end of the “A foreclosure sale displaces disrupts neighborhoods and drains wealth from our Chief Judge Jim Shake said in the release.
“Ifr we can use our resources toencourages communication, offer alternatives and prevent significant losses to families and then we as a community have a responsibilitty to do that.”