Foreclosure is the legal proceeding in which a bank or other secured creditor sells or repossesses a piece of real property due to the owner’s default on its promissory note. When the process is complete, it is typically said that “the lender has foreclosed its mortgage or lien.” According to Investopedia, repossession of a home […]

As in other communities around the country, foreclosure rates in Kansas have been steadily increasing over the last couple of years. Subprime foreclosure rates in Wichita, although high, didn’t show a clear upward trend in 2008 and may signal that the subprime crisis has peaked here. While the subprime mortgage situation in Kansas is far […]