Kansas City Foreclosure Attorneys Talk Forbearance, Part 1 — With today’s economy, the ups and downs of unemployment are all over the news. Have you suddenly had a job loss? Did you unexpectedly have a rise in expenses? An unexpected rise in expenses could be anything from having to care for a loved one to a large, unexpected necessary purchase.
Sometimes you might even have a severe injury. A serious injury can sometimes result in costly medical care that puts you in a precarious financial situation. There could even be a natural disaster that results in significant damage to your home. All of these things leave you in a vulnerable fiscal situation. Kansas City foreclosure attorneys are here to help you.
Plan Ahead With Help From Our Kansas City Foreclosure Attorneys
There are many banks that offer forbearance options to people that have situations like the one described above. Forbearance allows homeowners who are experiencing hardships to reduce their mortgage payments temporarily. Many people in Kansas City used forbearance during the Covid-19 crisis because they lost their jobs or were very sick with the disease.
Kansas City Foreclosure Attorneys — Forbearance is Only Temporary
Kansas City foreclosure attorneys want you to understand that forbearance is only temporary. It does not erase debt or loans. It does not even lower the amount you owe to the bank. Eventually, it will come full circle, and you will have to pay whatever payments you deferred. You will need a safety plan when exiting forbearance, so be sure to ask your foreclosure attorney in Kansas City about how to handle this best.
Do you have questions about homeowner rights of redemption in Kansas City?
KC Foreclosure Law has the answers!
Our attorneys at KC Foreclosure Law are experts in navigating these difficult situations, and we will provide all the guidance you need. We will help you understand all your options. We are here to help you weigh the positives and negatives and develop a strategy that works best for you. Kansas City foreclosure attorneys will navigate the process of forbearance, but first, you need to know how to request forbearance.
In the next part of our series on forbearance, we will discuss how requesting forbearance works and some general strategies for safely exiting a loan forbearance. Be sure to check it out!
Do you need Kansas City foreclosure attorneys? Real Estate law is a wide-ranging practice area. KC Foreclosure Law is your one-stop shop for favorable outcomes across the spectrum of real estate law. From filing a quit claim deed in Kansas City to trustee assistance. KC Foreclosure Law is here for you whether you need to transfer property ownership, litigate complex ownership disputes, evict a tenant, or even find yourself in the middle of a closing dispute. Our contract for deed lawyer in Kansas City is here to help you with everything from redemption rights in Kansas City to mortgage defaults.
Our attorneys frequently advise clients on foreclosure matters including losing your home and working through forbearance. If you find yourself at risk of losing your home, call KC Foreclosure Law for a free consultation. We look forward to assisting you! Our experts have the knowledge and expertise to help guide you during this complex process. We have the resources to put you in touch with a Kansas City foreclosure attorney who will provide valuable advice when you need it most. A foreclosure doesn’t have to be scary; you just need to have the right people on your side to help along the way. Your attorney’s primary role is to go over all your options when facing foreclosure. Foreclosure attorneys have expansive knowledge that can help you avoid pitfalls, save time, and provide the best chance of saving your home.
