Here is a summary of foreclosure laws and rules for the State of Kansas:
- Lenders use judicial foreclosure.
- The foreclosure begins with filing the complaint.
- It can take up to 130 days to process the documents and the date of publication must be published for 21 days.
- The redemption period is from 90 to 365 days. The full 365 days is allowed if the borrower has paid one-third or more of the principal.
- A deficiency judgment may be obtained for the difference between the foreclosure sale price and the amount due on the loan. Deficiencies are common.
- However, the court may refuse to confirm a sale where the price is not equal to the judgment, which helps prevent abusive deficiency judgments.
- The borrower can redeem any real property sold at foreclosure at any time up to 12 months from the date of sale.
If you are interested in reading the actual statutes relevant to mortgage and foreclosure in Kansas those laws are available online.
Learn more about what the above procedures and rules mean. Review the homeowner foreclosure guide on this website.
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