If you’re facing the possibility of foreclosure in the future, perhaps you are wondering can you get your house back after foreclosure in Kansas City .
After the court rules in the favor of your lender and agrees with the lender to proceed with foreclosure, it is very hard for you to get your house back.
What Options Do You Have?
It is possible to get your house back after foreclosure in Kansas City but you must know the laws of your state. In Missouri the timeline to get your house back is dependent on who is buying the house at auction. If the bank buys the house, then you have one year to redeem your rights to the property, however, if an individual buys the home, you don’t have those same redemption rights and must notify the court at or 10 days prior to the sale. In Kansas your redemption period can be 12 months, however, that also depends on how much of your mortgage you have paid off. The court has some latitude to determine the redemption period.
The good news is, if you’re not in foreclosure yet, you have more options.
If that’s not an option for you at this time then you may decide to do what a lot of homeowners facing foreclosure are choosing to do: Sell your home before the home is foreclosed upon and pay the lender what is owed to them. This may not seem like a good option for you because you will have to give up your house and move. However, in the long term, if you don’t sell, you will end up with a foreclosure and damaged credit and you still have to move.
If you can get help with making your behind payments or work out a plan with your lender, that is the best option. The lender will prefer to help you get on track over foreclosure because that costs them time and money.
Taking control of you finances and trying to live within your means is always the best option. Even if you have to move, the reduction in stress may seem worth it.
Selling In Lieu Of Foreclosure
You also have some options if you decide to sell your home. It is likely that if you are behind on your mortgage, you probably do not have the means to pay for any repairs to ready the house for listing. You may be able to market your property for sale by owner and sell it to someone who is not looking for a perfectly updated home or you could find a real estate agent who can sell the house as-is.
Another option is to sell your house fast in Kansas City to a professional home buyer, like us at Mastiff Home Buyers. We will help you with what you need to stop the foreclosure and get your life back on track. We understand that having to move is time consuming and may be costly, so we will help you with finding a new place and setting up deposits if needed.