Kansas City Real Estate Question: Can a Kansas City homeowner sell their home after it has been foreclosed on?
Kansas City Real Estate Question: Can a Kansas City homeowner sell their home after it has been foreclosed on?
This real estate question was emailed to us the past week. It is a very good question and with this particular question, I will need more information in order to answer because a real estate foreclosure is different in Kansas and Missouri.
In Kansas after a home has been foreclosed on a homeowner is given redemption rights. These rights can be 90 days to 1 year, depending on the equity position of the homeowner. The homeowner can sell their home during this time period.
In Missouri, there are no redemption rights after a home has been foreclosed on and the homeowner has no rights to the property after the home has been foreclosed on.
As soon as a homeowner misses one mortgage payment in Kansas and Missouri, I would suggest contacting a seasoned Loss Mitigation Consultant. There are more options to help such as requesting a forbearance, loan modification, filing bankruptcy, working out a short sale and more.
If you know of anyone needing help, Contact the Dowell Taggart Team at (913) 712-9313.
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