It can seem impossible to try and avoid foreclosure, especially when you do not know all of your options. Cherry Park Properties is here to help you learn about your options when it comes to foreclosure. Join us to learn about six ways you can avoid foreclosure in Johnson County and what each of those mean for you as a homeowner.

Avoid Foreclosure

Six Ways to Avoid Foreclosure

1. Know Your Rights

You must understand your rights in your mortgage agreement. Find your loan documents and carefully analyze them so you understand what your lender has the right to do. Explore the foreclosure bylaws in Kansas and how they directly affect borrowers. By educating yourself you can avoid the confusion of what the lender can and cannot do if you do cannot make your mortgage payment.

2. Utilize Your Assets

You have assets, more than you may realize. Jewelry, vehicles, stocks, and more are all known as assets. Did you know you can sell these assets to reinstate your loan? You can avoid foreclosure in Johnson County by using that cash to pay towards your loan and reinstate it quickly. Even if it does not significantly decrease your loan principal, it shows your lenders that you are actively attempting to keep your home.

3. Pay Attention to The Problem

The further behind you become, the harder it will be to reinstate your loan. By ignoring the problem, you become more likely to lose your house. Do not set the problem to the side, it will only make your situation worse.

4. Prioritize Your Spending

Review your finances and see where you can cut spending to make your mortgage payment. Look for optional expenses such as cable TV, memberships, and entertainment that you can live without. This will allow you some flexibility in your access to funds for mortgages.

Lenders do not want your house. They have options to help borrowers through difficult financial times.

5. Get Ahold of Your Lender

Lenders do not want your house. They have options to help borrowers through difficult financial times. The first notice you receive will offer helpful information about foreclosure prevention options that can help you understand your financial problems. Later mail may include important notice of pending legal action. Your failure to open the mail will not be an excuse in the foreclosure court.

6. Understand Your Lease Option

Valuable information about foreclosure prevention options and assistance can be found with companies like ourselves. Cherry Park Properties is ready to help you with your foreclosure in Johnson County.

Our staff members have more than 40 years of experience in the real estate foreclosure industry. We are proud of the quality work we do and our reputation for honesty. Cherry Park Properties, LLC invests in Johnson County residential real estate. Contact us here or call at 913-839-2345 to talk about your options with foreclosure in Johnson County.