Various news agencies are reporting that home foreclosures in the United States are down to their lowest levels since 2007. Kansas foreclosures ended down 39 percent in 2013 and Missouri foreclosures ended down 40 percent in 2013. This is good news for the overall housing market; however, there are still many individuals and families facing foreclosure in the Kansas City area.
In Kansas, it is reported by RealtyTrac that 5,506 properties are in “distress status” and 14,471 homes facing foreclosure in Missouri.
While the number of homeowners facing foreclosures has declined, many Missouri and Kansas homeowners are upside down on their mortgage owing more than their home is worth. For a greater understanding of under-water mortgages, see our previous article.
The Sader Law Firm has experienced Kansas City bankruptcy attorneys that can help clients in Missouri and Kansas facing foreclosure. We offer free phone consultations and may be able to save your home from being foreclosed on in Missouri or Kansas. If you are a homeowner in Kansas or Missouri and your home has lost significant value, we may be able to help you relieve the burden of an “underwater” or “upside-down mortgage.
For the full article discussing the declining home foreclosure rate, see this article in the Kansas City Star.