The good news for homeowners in Kansas and Missouri is that the foreclosure rates in both of those states are well below the national average. Nonetheless, some homeowners still find themselves in situations completely out of their control. A job loss or unexpected health problems can lead to a struggle to pay the mortgage every month. Others may have entered into a mortgage agreement they didn’t completely understand, leaving them delinquent on their payments.
In these cases and so many more, the homeowner is often left with few choices, the best of which may be finding a house buyer in the Kansas City area who can take the burden off your hands. Before we get to that step, however, most homeowners have a lot of questions about the foreclosure process, starting with how foreclosure actually works.
Foreclosure begins once you’ve missed your fourth mortgage payment, but the entire process can take more than a year, depending on a variety of factors. Once the process has begun, there are still ways to avoid foreclosure, though all of them involve paying what you owe. Many homeowners find that the best way to avoid foreclosure in these situations is to sell their home with the help of an experienced house buyer in Kansas City. Assuming this nets enough to pay off their mortgage, they can avoid foreclosure and maybe even put a little money in their pockets for a new place.
If this sounds like the best option to you, the next step is to alert your lender. If you let your lender know that you’re planning to sell the property in order to pay off the mortgage, the foreclosure auction can be postponed, giving you the time you need to go through the home sale process.
Fortunately, selling your home to HouseMax takes very little time. As a motivated house buyer in Kansas City, HouseMax can complete the home sale process in as few as seven days. That’s just one week to a sold home, versus working with a realtor to list and advertise your home on the open market, which can take, well, as long as it takes. Plus, the realtor then takes a cut of the sale price, which may not leave you with enough to pay off your mortgage.
For those who find themselves facing foreclosure, selling their home on the open market simply may not be feasible. But even if foreclosure processes have already begun, you can still sell your home to a house buyer in Kansas City right up to the point when the bank takes possession. Of course, coming to HouseMax before the process gets underway can help take some of the pressure off.
Whether you’re in the midst of foreclosure or just trying to avoid a bad situation, contact HouseMax today! We help KC area homeowners sell their homes with a process that’s quick, easy, and stress-free. We pay cash, and you pay nothing!