Stop Foreclosure in Kansas City | Grassland Properties

Kansas City Foreclosure Help | Behind on Mortgage? Talk to your Bank

posted by Seth Macchi on Tuesday, January 20, 2009

Remember, you are responsible for your mortgage. If you are getting behind on your Kansas City mortgage and want to know how the bank will work with you, call them up and ask. They would much rather keep you in your house paying your mortgage in some form or another than go through the expense of foreclosure. This FHA site has a great breakdown of options with your mortgage company.


If these options do not fit your current situation (ie. your inability to make payments is permanent) and you are in the Kansas City area, call us. We specialize is Short Sales and help homeowners with an impending foreclosure walk away from their debt with much less damage to their credit. This is a free service to homeowners. Call Grassland Properties for assistance to Stop Foreclosure in Kansas City or provide help in Kansas City Short Sales.


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How bad is a foreclosure or bankruptcy on your credit?

posted by Seth Macchi on Monday, January 12, 2009

So how bad is a foreclosure on your credit? Why not just walk away from a house that you are behind on and is worth less today than the day you bought it? Read this article to find out.

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Loan Modifications "Not Working"

posted by Seth Macchi on Saturday, January 10, 2009

According to Foreclosure.com: "Distressed homeowners have several available options to avoid sliding into foreclosure, whether it’s negotiating short sales or working with lenders to adjust their monthly mortgage payments.

The latter solution is referred to as a loan modification. And financial institutions — especially in this turbulent market — will often rework loans to ensure that families can afford to stay in their homes.

That’s what it is supposed to do, anyway. Today an alarming report indicated that homeowners are having trouble paying their mortgages despite having them tweaked.

Here’s a snip:

"More than half of delinquent borrowers who had their mortgages reworked earlier this year to avoid foreclosure were behind on their new loan payments after just six months, a federal regulator said yesterday. John C. Dugan, US comptroller of the currency, told a housing forum yesterday that data his agency is collecting show the increase in repeat defaults by homeowners is 'remarkably high.'"

Perhaps more troubling is the finding that homeowners who have their loans modified are having trouble making the reduced payments just six months later and are “redefaulting.” One reason for that, according to the report, is that several of the modifications actually end up costing homeowners more each month after “rolling in past-due principal, taxes and insurance.”

That doesn’t appear to be a very attractive solution and more than likely only makes a bad situation worse.

So what are cash-strapped homeowners supposed to do?

The most important thing to keep in mind is that it’s best to identify and address the situation as early as possible. Contact the lender and tell them your situation. If you meet resistance or feel that the options presented to you are not good then make a few more phone calls.


There is likely a local, county or state counseling service that can point you in the right direction.

The worst thing you can do is nothing … or not give it 100 percent effort."

Remember, if you are holding on to a distressed property in the Kansas City Metro area and you would like to explore your options, contact Grassland Properties. We specialize in Short Sales and can help you save your credit.

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1 in 6 Homeowners "Under Water"

posted by Seth Macchi on Wednesday, December 24, 2008

Here's an article from the Wall Street Journal released back in October 08. It has some great insight into what many homeowners are facing...a house that is no longer worth what it was just a few short years or, in some cases, months ago.

If your home is now worth less than your loan and you can't afford it anymore, Contact us for more information or visit our website to find out more about how we can help you avoid foreclosure.

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