Wichita Kansas Foreclosure Help, Defense, Laws and Process


Foreclosure is the process that a lender uses to repossess the property which the particular debtor has failed to pay interest on the mortgage. To the lenders this is particularly a very opportune time to make hay while sun shines. As you would imagine, they do it with a lot of zeal. They have their last laugh. To the home / property owners it is the worst moments and time one can expect.

After taking a mortgage help one can always fail to honor the agreement not out of ignorance, but lack. Currently the world is going through hard times. Economic recess is on the rampant. You don’t know when you are going to lose your job. Finding another job is nearly impossible. Hence after applying for a mortgage, one could always fail to pay.

Many people always see this as the end of the world. This is not always the case. It could be a blessing in disguise. There is always a way to stop the repossession of your property.

In case the foreclosure is certain there is legal information you should have for you to successively turn the foreclosure to your favor. The most promising one is to engage an attorney or an advice agency. Once you engage one who is experienced he /she can advice you on how you to stop your foreclosure. For instance you could file for bankruptcy or consider Short sale.

The government also has the project dubbed government help; it engages law practitioners on helping home owners to secure their properties. This comes along free of charge. With this government assistance No fees charged as the scheme is funded by the federal government and HUD. It is also healthy to keep very much in touch with your lender. You may be surprised when your lender gives you a redemption time. He /she as well could agree to low payments of the same.

Stop Foreclosure in Wichita, Kansas

The very surest way of stopping foreclosure is paying when you can but you don’t feel like. If this is not possible due different reasons, you can always use the following:

  • File for bankruptcy –Through your attorney you can be able to file for bankruptcy. Note it is not in all situations that you are safe to file for one. It will always depend on your situation.
  • Consult your bank –you can always get some loan modification to service your mortgage. If your bank is in a place to offer you this then you can always be on the safe side as it could give you a grace period to repair credit you outstanding balances.
  • Contact your lender – Always never ignore your lender as this may irritate and motivate him and you don’t want that. It is always in good taste to keep in touch with him as often as possible. It helps you to let him know your financial situation, thus you can always workout something. Avoidance might workout as a perfect recipe for your foreclosure to be effected.
  • Low payment – With your lender in good terms with you there are always avenue for coming up with a strategy of paying low payments rather than go for the tiring process due to the default.

This are not the only means to stop a foreclosure, others include Selling your other properties and loss mitigation services. In consultation with your attorney you will always be a breast in decision making.

Wichita, Kansas Foreclosure Process

  • The process takes 3-6 months.
  • The primary documents used are deeds of trust and mortgages.
  • The lender issues a notice to the debtor once he / she fail to pay 3 consecutive interests.
  • Once cleared by the bank the creditor may contract a sheriff to sell the property on his behalf.