Question from Kansas City Homeowner who is having Problems with Home Loan
Question from Kansas City Homeowner : We are having problems paying opur mortgage. The bank hasn't filed foreclosure, but we anticipate they will file foreclosure soon. We are currently 1 month late on our mortgage.We have found a rental to move to and we will be moving out of our home this coming weekend.We can not afford a real estate commission and we don't know what to do. Please help! Our home is located in Olathe, Kansas.
Answer from Kansas City Real Estate Wizard: According to the credit agencies we use, there are over 2,000 homeowners who are 90+ late on their mortgage in Johnson County, Kansas. In the State of Kansas, which is a Judicial State, in order for a bank to foreclosure they must file public notices. The foreclosure process on a best case senario takes a bank 3 months to foreclosure a mortgage in Kansas. After the foreclosure, the homeowner gets a 90 day redemptive period, if they still live in the home.
My recommendation is to stay in the home and lets get together and talk about your options. We can request a forebearance, loan modifiation, short sale and many more options. As soon as you are 30 days late, start working on your options. If you wait untill you are 90+ late, you will have fewer options to work with.
The Dowell Taggart Team takes pride in helping homeowners review their options and work out a plan. Banks may try to bully you, we have some great advisors on our side that will help you out. Banks don't want to foreclose the mortgage. There are options that a bank would rather negotiate and soften their loss.
Information provided by Dowell Taggart Team .
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