Foreclosure is the legal process effected through the court system in which a mortgagee (lender—often a bank) terminates a mortgagor’s (borrower’s) interest in the real property in which the mortgagor gave the mortgagee a security interest (a lien) as collateral for the loan used to purchase the property.

Foreclosure generally occurs when a homeowner defaults and fails to make mortgage payments as required by the loan agreement (promissory note).

Foreclosure allows the lender to seize the property, remove the homeowner, and sell the home—all of which are legal remedies the mortgagor and mortgagee agreed to in the mortgage contract.

In Kansas, foreclosure is a judicial process, meaning that the lender must go through the courts to terminate a homeowner's interest in their property due to default on mortgage payments. When a homeowner fails to make payments as stipulated in the loan agreement, the lender can file a lawsuit to obtain a court order to foreclose on the property. This process begins with the lender filing a petition, and the homeowner is then served with a notice and has an opportunity to respond. If the court finds in favor of the lender, the property can be sold at a public auction. The proceeds from the sale are used to pay off the mortgage debt, with any surplus returned to the homeowner. If the sale does not cover the debt, the lender may obtain a deficiency judgment against the borrower for the remaining amount. Kansas law provides specific procedures and timelines that must be followed in the foreclosure process, and homeowners facing foreclosure may have legal defenses or the right to seek loss mitigation options such as loan modifications or short sales. It is advisable for homeowners in this situation to consult with an attorney to understand their rights and options under Kansas law.