Shelbyville, KY

3752 Shelbyville Rd, Shelbyville, KY 40065

$ 173,000

1930's Bungalow

Located on desirable US 60 just west of Claudia Sanders.

On beautiful 2 acre lot. Country setting yet conveniently located just 2 minutes from Shelbyville.

32 minutes to downtown Louisville and 33 minutes to downtown Frankfort.

Features include open floor plan with 9' ceilings, a spacious country kitchen with 1/2 bath.

2nd floor laundry is conveniently located near the 3 bedrooms. 8 x 30 front porch and a 15 x 30 rear patio. 16 x 28 building with water and electric. Underground dog fence on 1-3/4 of the 2 acres.

For Detailed information or to show this property, Contact:

Dennis Brooks, Realtor

502-664-6125

Bank of America, GMAC and Chase have recently announced a freeze on foreclosures. Soon thereafter they announced they lifted the freeze and will continue the foreclosures.

There is much confusion in the market.

One thing is sure, however, if the borrower is behind on payments, the lender eventually has the right to foreclose.

The reality is that a foreclosure freeze is not the answer to your problem. However, there are steps you can take to avoid foreclosure.

Please click here for a free report on the Five Steps to Avoid Foreclosure

Many short sale clients tell me they filed Chapter 13 bankruptcy and it didn’t help because it caused their payments to go up.

When you file a Chapter 13 in Jefferson, Oldham, Shelby, Spencer or Bullitt County, KY, you have to continue to make your regular monthly payment, plus an extra monthly amount towards the back payments that you missed prior to the bankruptcy.

Important Disclaimer: I am a short sale Realtor in Louisville, KY, not an attorney. I am writing about my observations of the many clients I helped during and after their Chapter 13 or Chapter 7 bankruptcy. I am not an authority on bankruptcy laws and procedures and my opinions are not to be construed as legal advice. You must consult an attorney regarding any of the bankruptcy issues discussed here.

Wikipedia defines a Chapter 13 bankruptcy as “Under Chapter 13, the debtor proposes a plan to pay his creditors over a 3- to 5-year period. This written plan details all of the transactions (and their durations) that will occur, and repayment according to the plan must begin within thirty to forty-five days after the case has started.”

Don’t Forget That You Still Owe The Back Payments And Fees

If your mortgage payment is $1,500 a month and you are six months behind, your arrearage is $9,000. Add to that late fees and legal fees that your lender may have assessed and you can easily be over $10,000 in arrears.

Payments On Your Arrearage Can Make Your Combined Payment Go Up

In a Chapter 13, the court will decide how much of that $10,000 debt needs to be repaid, and how that extra payment will be spread out during the bankruptcy period.

The payment on the arrearage could be an extra $100 to $300 per month paid to the court, on top of the regular mortgage payment. This is a good arrangement for someone who suffered a temporary setback and can resume payments but can’t make up the big lump sum arrearage.

Defaulting Can Cause The House To Right Back Into Foreclosure

If the borrower defaults on the payment, the lender can petition the court to pull the house out of the bankruptcy and foreclose.

Tired of the Struggle

Many borrowers are tired of the stressful struggle or simply don’t have the funds to pay the increased payments each month. They see their house getting foreclosed upon anyway after throwing thousands of dollars of scarce survival money at the payments.

A Short Sale Can Often Help The Borrower Avoid Foreclosure and Bankruptcy

In many cases the short sale could have gotten the house sold, the deficiency forgiven by the lender and the bankruptcy avoided altogether.

Take a twenty-minute drive east down interstate 64 from Louisville to Shelbyville, and you'll find a quiet escape from city life. With a perfect commuting distance from the city, this small town provides the slower pace and peace of nature that many who work in the city desire.

Other than its proximity to Louisville, Shelbyville has many other selling points that persuade home buyers to pick the quieter life. The small city has renowned horse farms, distinguished dining options, shopping, and great recreation.

As the Saddlebred Capital of the World, Shelbyville has outstanding horse farms, as well as a yearly horse show that attracts guests from all over. There are over forty Sattlebred establishments in Shelbyville, making the horses that come from this small town some of the "most famous and accomplished show horses in the country" states http://www.shelbyvilleky.com/horse-farm-tours.html This prestige has made Shelbyville's yearly horse show a great success.

For those not into horses, Shelbyville still has plenty to offer in terms of dining, shopping, and recreation. In fact, its dining accommodations attract Louisvillians for both daily dining and special events. Two of its most popular restaurants include Old Stone Inn and Claudia Sanders Dinner House. Both provide excellent dining for daily or formal occasions. Additionally, Shelbyville boasts multiple other small town dining options, including Bell House Restaurant, Maggie's Bistro, Science Hill Dining Room, Fiesta Mexicana, FireFresh Barbecue, Marimba Mexican Restaurant, Mike's Fish House, Sixth and Main Coffeehouse, Ken-Tex Bar-B-Que, McKinley's Bread Shop & Deli, Sam's Place, and Through the Looking Glass. These small town options beat the typical chain restaurants and provide a plethora of mealtime choices for residents and visitors alike.

If shopping is what you need, Shelbyville provides both fast access to Louisville malls via I-64 and its own shops to help you find what you're looking for. Shops include Antiques for You, Gardner House Antiques, Making Ends Meet fabric shop, Metzger's Country Store, Ruby Rooster Antique Mall, Shelby Horse Supply, the Country Lady, and The Keepsake Shop. Additionally, Shelbyville features a few essential chain stores such as Goody's, al-Mart, Payless Shoe Store, and more.

Too often the complaint of small town residents is that there is "nothing to do." Not so in Shelbyville. Recreational opportunities include tours, entertainment, golf, wildlife, and educational options for residents, visitors, and their families. Whether it's touring the Talon Winery, bowling at Bluegrass Bowling Center, catching a movie at Great Escape 8 theater, horseback riding at Red Orchard Park, watching a live play at Shelby County Community Theatre, or getting pampered at Magnolia's Spa and Salon, Shelbyville has plenty of options to keep residents on their feet. Plus the golf courses in Shelby County, including Shelbyville Country Club, Clear Creek Golf Course, Persimmon Ridge Golf Course, and Weissinger Hills Golf Course, provide a game to meet every level of player out there.

Shelbyville, an often overlooked home-buyer's dream, has great prices on houses for you and your family. For more information about living in Shelbyville or other Kentucky counties, please contact The Vince Carter Team.