Protect My Kentucky Home Notice

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    Is the Protect my KY Home disclosure required when you have a commercial loan in the name of a business? The purpose of the loan is to construct rental homes such as SFRs and Duplexes.


    286.2-020 Required disclosure of services provided by Kentucky Homeownership
    Protection Center.
    (1) “Kentucky Homeownership Protection Center” means the center established in KRS
    (2) At the time of closing and together with the final signed loan documents, if the
    Kentucky Homeownership Protection Center is operational as provided in KRS
    198A.400, a mortgagee shall provide to the homeowner any brochure, pamphlet, or
    other brief document prepared or approved by the Kentucky Housing Corporation
    that describes the services provided by the Kentucky Homeownership Protection
    Effective: April 24, 2008
    History: Created 2008 Ky. Acts ch. 175, sec. 2, effective April 24, 2008

    I think it was intended for this to be consumer transactions, but since homeowner isn’t defined and there isn’t an exemption that I’m aware of for commercial transactions, I think the safe and “easy to remember” approach would be to give it on any residential mortgage transaction. You might contact the Ky Dept. of FI or Kentucky Homeownership Protection Center to get more clarification.

    Here’s another q&a on this topic:

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