Understanding Foreclosure and What You Can Do to Stop It in Kansas City

How to stop foreclosure on your house in KC

Foreclosure is no joke. It can ruin your life for a long time, even if you qualify for any type of credit moving forward – and with an already terrible score on your report it’s unlikely that will happen anytime soon anyway! The consequences carry over into all aspects of our lives: Your personal relationships may be strained or lost as friends abandon you because they find the situation too unsettling to handle; employment opportunities become harder to come by due to employers’ unease about taking such a significant risk in hiring someone who has demonstrated poor financial responsibility in their past dealings.

Ignoring this will not make it go away. The stress of the process also takes an emotional toll, as you are left wondering when the lender will repossess the house and sell it at auction. Sadly, a foreclosure could still leave you owing the debt remaining on the property as well. If you have already received a foreclosure notice, this is not the time to allow yourself to shut down from feeling overwhelmed. Take this notice as a last chance to turn things around and act accordingly. Whatever you do, if it has gone to this stage, do not bury your head in the sand. Stay all business when you speak or write. Avoid letting emotions take control, and this will help tremendously in keeping those lines of communication open. 

Forewarned is forearmed. Want to stop the lender from foreclosing on your home and avoid facing all of the negative backlashes? Understanding foreclosure and what you can do to stop it in Kansas City can help you avoid paying such heavy debts.

Get Comfortable With Discomfort

Suffering comes in all forms, and having a roommate isn’t likely to be the optimal scenario you may have envisioned when you pictured homeownership. However, worrying about being able to pay your mortgage every month is not ideal. If you don’t already have a private living space within the home, such as a basement with a small kitchen and bath, you may need to sacrifice your master suite. Consider renting this space as you can bring in more for the rental and give both the renter and yourself a bit more privacy by having the facility contained within the rental area. Verify that your housing circumstances allow room rentals, such as HOA or other association rules and federal, state, and local Kansas City tenant laws. You should also check your insurance policy to ensure that the rental of rooms is allowed and won’t raise your rates dramatically.

Taking quick action by getting a roommate to help with bills is another way to stop foreclosure in Kansas City. 

Take Inventory

Take inventory. Desperate times call for desperate measures. When your circumstances suddenly change, you must look inward to find the hidden treasures you have gathered during your life. If you face foreclosure in Kansas City, a quick fix to stop it is to liquify some of your other assets. It is better to act swiftly and allow yourself time to find the right buyer because no matter what the value of an item is on paper, it is only worth what someone is willing to pay to you right now. Taking this route to pay off your mortgage and save your home may be painful, so many homeowners first attempt to withdraw funds from less sentimental assets, such as savings accounts, 401k’s, or other property. Borrowers must sometimes sacrifice even their family heirlooms and cherished possessions to resolve their financial woes. It is time to look in the top of your closet and the attic for collectibles. You may even want to review your baseball card collection from childhood. Before cashing in, do your homework so you are sure to receive the total value for your belongings.

Find Your Solution

Want to end your foreclosure worries today? You can stop a foreclosure in Kansas City in its tracks by working with Phenomenal Properties KC. You can sell your home to Phenomenal Properties KC who can solve all your foreclosure problems. Phenomenal Properties KC buys houses as they are, so you don’t need to worry about making repairs or even cleaning up for showings. You can simply pack up whatever you want to keep and walk away, leaving the rest to us. When you meet with a professional buyer from Phenomenal Properties KC, they will walk you step by step through calculating the offer, ensuring you agree the offer is fair. Phenomenal Properties KC uses simple, straightforward contracts. Phenomenal Properties KC doesn’t charge commissions and has no hidden fees at closing. And Phenomenal Properties KC pays in cash, making the process extremely quick. In most cases, you can close in a matter of days! And if you aren’t ready to move, Phenomenal Properties KC can work with you on the closing date. Phenomenal Properties KC makes it easy, handling everything with our in-house professionals from every walk of the real estate industry. Just call Phenomenal Properties KC at 913-912-6262 or send us a message to learn more.

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