Johnson County

Judicial Foreclosures

When you’re un able to make your mortgage payments, your lender may file a lawsuit against you to take ownership of your property. Unlike some other types of foreclosure, a judicial foreclosure goes through the court system, which means a judge will oversee the process. In Johnson County, all foreclosures must be judicial foreclosures.

If the court decides in favor of the lender, it will issue a judgment allowing them to sell your property to repay the mortgage debt. This sale will happen at a public auction outside the courthouse, overseen by the Sheriff’s department. If the sale doesn't cover the full amount you owe, the lender may be able to seek a deficiency judgment against you for the remaining balance.

Throughout this process, it's important to stay informed about your rights and options. You may have opportunities to work with your lender to avoid foreclosure, such as through loan modification or repayment plans. It's also a good idea to seek legal advice to understand the specific laws and procedures in your area.

Facing foreclosure is tough, but there are resources available to help you navigate this challenging time. You have many options available to you whether you want to move out or stay in your home.

Redemption Rights

Johnson County residents who have foreclosed on have redemption rights. This means that the homeowner has the right to pay the amount that the home was auctioned for to the sheriff and the homeowner will regain ownership of the property. This process places the property back in the homeowner’s name free and clear of the mortgage that was foreclosed on.

Typically the time period to use your redemption rights is within 90 days following the sale. You have no obligation to exercise your redemption rights. You can also sell your redemption rights to another person or entity, and it is very possible that someone may approach you asking to purchase them. It is important to be aware of scammers when dealing with this.

What We Can Offer You

Lease Option Agreement

A Lease Option Agreement combines the benefits of leasing with the potential to buy the property in the future. It allows you to lease a property for a set period, with the option to purchase it at a later date. We pay off your mortgage, you stay in your home and avoid the possibility of foreclosure while you get back on your feet again.

Out of time and just ready to start over? We can offer our highest and best price for your home before auction with payment in cash, and closing as soon as seven days. Walk away with cash in hand to start anew. Reach out to us to get the process started!