With the hard times the aircraft industry has experienced in recent times, foreclosure is becoming a reality for many in the Wichita area. From July 2008 to July 2009 foreclosures were up almost 100%. Additionally, nearly 20% of all homes are worth less than their principals. The same is true of most of Kansas.

Foreclosure is a frightening word for most homeowners, but it doesn't have to happen. From the bank's point of view, a foreclosed property is an empty property--one that does not bring any money. No bank wants that; and in tough times like these banks have tons of properties they can't sell. This can, in many cases, be an advantage for those falling behind on their mortgages, because it put borrowers in a good bargaining position. People don't realize that most lenders will do anything to not foreclose on a property. One of the best options for a borrower is the short sale, which may take a number of forms. With a short sale, the lender agrees to allow you to sell your home at a reduced price, and agrees to allow that amount to settle the debt. But before you try to negotiate with your lender, you need to understand the process.

New Dawn knows bankers are very good at negotiating, and the typical borrower doesn't have the banking industry knowledge necessary to get the best deal for themselves. We have a staff of highly trained professionals who know the ins and outs of the process and can bargain from a better position. We can show you the many options to foreclosure and advise you on the best.

If you are falling behind on your mortgage, and your family is feeling stressed, there is a way out. Let New Dawn show you. For more information, fill out the form on the right. All inquiries are strictly confidential.