{"data":{"id":"us-ky/krs-367.390","jurisdiction":"us-ky","citation":"KRS 367.390","heading":"Right to refinance consumer loan or consumer credit transaction --","body":"Conditions -- Exception.\n(1) With respect to a consumer loan or consumer credit transaction, other than one\nprimarily for an agricultural purpose or one pursuant to a revolving loan ac count or\na revolving charge account, if any scheduled payment is more than twice as large as\nthe average of earlier scheduled payments, the debtor has the right to refinance the\namount of that payment at the time it is due without penalty. The terms of the\nrefinancing shall be no less favorable to the debtor than the terms of the original\nloan or consumer credit transaction. These provisions do not apply to the extent that\nthe payment schedule is adjusted to the seasonal or irregular income of the debtor.\n(2) Notwithstanding any other provision of this section, this section shall not apply to a\nconsumer loan or consumer credit transaction directly between a debtor and a\nfinancial institution in connection with the purchase or construction of residential\nproperty where payment of such loan or transaction is secured by a mortgage lien\nupon such property.","path":["KRS Chapter 367"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34949","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:03Z","sha256":"41ae6e4b97c081b2ec042232330b65e76c9a6ffae1fde66e0876f2c60cfe3c3d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-367.389","next":"us-ky/krs-367.393"},"notice":"GroundRules: Original legal text. Not legal advice."}