Foreclosures in Wichita KS

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 less dire than in coastal markets, many homeowners in Wichita have fallen behind on their mortgage payments because of the adjusting mortgage rates. At present, 554 houses are in foreclosure in Wichita — more than usual and at rates below the national averages, Wichita looks pretty good compared to the soaring rate of foreclosures in the nation as a whole. The foreclosure rate in Wichita among outstanding mortgages was 0.74 percent during July, up from 0.69 percent from a year earlier. That was lower than the national foreclosure rate of 1.6 percent.