Facing Foreclosure In Kansas City?
HOW TO STOP FORECLOSURE IN KANSAS CITY
Facing foreclosure in Kansas City is difficult to process for any homeowner and should not be faced alone. Let us help you through this.
Do you need help with your foreclosure?
Has an adjustable-rate mortgage caused you to fall behind on your mortgage payment? Did you recently lose your job and are struggling to make on-time payments? Are you looking for help from an experienced professional so you can save your credit from foreclosure in Kansas City?
If so, you’ve come to the right place!
In this article, you’ll learn the following:
Let's get started!
What is foreclosure?
Effects of foreclosure?
For additional information, consult with an experienced tax professional on your current situation.
Foreclosure process in Missouri
Power of Sale Foreclosure Guidelines
Foreclosure Process in Kansas
These additional steps must also be followed:
Thereafter, the winning bidder will receive a sheriff’s deed to the property. This deed grants the holder perfect title to the property once the borrower’s right of redemption expires. Under Kansas law, a borrower has 12 months to redeem the property unless there has been an abandonment of the property.
Timeline for a Foreclosure in Kansas City
In Missouri, the timeline for a judicial or non-judicial foreclosure is typically 60 – 90 days from start to finish.
In Kansas, the timeline for a judicial foreclosure is anywhere from 90 – 150 days.
Buying Another Home After Foreclosure
|Buying after a foreclosure||5-7 years|
|Buying after a foreclosure (w/ extenuating circumstances)||3-7 years|
|Buying after a deed-in-lieu of foreclosure||4-7 years|
|Buying after a deed-in-lieu of foreclosure (w/ extenuating circumstances)||2-7 years|
|Buying after a short sale||2 years|
How to avoid foreclosure in Kansas City
Contacting your lender allows you time to work out a solution, such as a loan modification. Click here to read more about how loan modifications can be a great way to reinstate your loan.
Responding to your lender shows them that you care about resolving the issue. You will likely receive several calls or mailers with information about the options you have. It is imperative that you consider all the possibilities and choose the best option for you.
Loss-mitigation goes hand in hand with both of the previously discussed steps. Contact your lender for more information.
A housing counselor is a great way to get you the help you need to get back on track. Find a low-cost counselor who is experienced with the foreclosure process and can advise you on what steps to take.
Additionally, I cannot stress enough how important it is that you manage your spending. Far too many people fall behind because they do not manage their money. Create a budget and stick to it. If you need help, contact your housing counselor.
Weigh your options. Would you rather have a foreclosure on your credit report or sell off some of your assets to get caught up? Liquidating assets can be helpful for you if you fall behind and need cash quickly.
Government Assistance For Homeowners Facing Foreclosure
Loan modification, “a change made to the terms of an existing loan by a lender. It may involve a reduction in the interest rate, an extension of the length of time for repayment, a different type of loan, or any combination of the three.”
Hardest Hit Fund (HHF) Programs. This program helps homeowners stay in their current homes or find a more affordable home to live in.
Home Affordable Unemployment Program (UP). If you’re unemployed, you can have your mortgage payments reduced or suspended for 12 months.
Principal Reduction Alternative (PRA). If you meet their requirements, you can have your mortgage principal balance reduced.
Home Affordable Foreclosure Alternatives (HAFA) Programs. If you meet HAFA requirements, you can receive up to $3,000 following a deed-in-lieu of foreclosure or a short sale.
Second Lien Modification Program (2MP). For homeowners with a second mortgage on their property where the first mortgage was modified under the Home Affordable Modification Program (HAMP).
How We Can Help With Your Foreclosure In Kansas City
If you’re interested in selling because that is your only option, we offer a wide range of services such as short sales and taking over payments for homeowners behind on their mortgage and facing foreclosure in Kansas City.
The benefit to you is debt and stress relief so that you can get your life back on track without worrying about a property that’s causing you financial distress. Because we pay cash, you get to sell your house even if you don't have any equity. We can pay full price or negotiate a short sale with your lender. Eliminating stress and worry from your life over time, price, or credit. At JW Home Buyers, we take pride in the services we provide and how we help homeowners all across the Kansas City metro area. Not only that, but we are also registered with the Better Business Bureau to establish trust with our clients.
For more information, please contact firstname.lastname@example.org or give us a call. We're more than willing to help you during this troubling time.