5 tactics to avoid Foreclosure in Boston

Behind On My mortgage loan, But I Really Need To Sell My Property… Can You Recommend Any Local Boston, Massachusetts Companies That Can Help Me!

 selling a house in probate in 2115

Missed several mortgage loan payments?

Prevent foreclosure on your Boston, Massachusetts home by reading through this succinct blog.

Missing payments on your property bank loan is like wading in the deep end of the pool, then having your best friend run to the edge of the swimming pool and throwing an acme anvil with ” Boston foreclosure” printed on it at your head.

Seriously… not only do you have to cover this month’s bill, but now you have to find a way to play catch-up and it isn’t like all the other bills in life just stop coming. If anything… when you are behind it just feels like more bills come out of the woodwork.

If you’re behind on house loan payments there are a few options that can help you to avoid foreclosure in Boston, Massachusetts maybe even sell your home. So many Boston, Massachusetts houses have been swiped via foreclosure, but there are numerous ways to avoid it.

1. Throwing in the Towel

Everyone is afraid of bankruptcy- it is usually a very complicated process. If you’re being crushed by a load of debt, bankruptcy can be a great way to negotiate with lots of lenders at once. It won’t make your mortgage evaporate, but it will put you on a path to eventually walk away. You wouldn’t come out unscathed, but you will survive. Every lender has its own process that it follows for bankruptcies. If you’re considering bankruptcy, our advice would be to get professional help.

2. Reaffirm

This can be a good card to play, but it may come with some unseen penalties. If you reaffirm your commitment to make your home loan payments, you have to make your payments. In some states where it’s allowed, an affirmation can create additional liabilities if your property is auctioned.

3. Making property Affordable (MHA)

If your mortgage loan qualifies, you might be able to participate in MHA. Any loans backed by Fannie Mae or Freddie Mac must be considered for MHA, and other lenders can choose to participate in MHA or not.

The principal balance on your mortgage and even your interest rates may be lowered if you are eligible for the MHA program. Suspended. Reduced. If you are unemployed this is definitely possible.

Be prepared to deal with a lot of paperwork because as I’m sure you’re aware MHA is a government program. It’s free money, but you are going to have to jump through some hoops to get it.

4. Hammer out a deal

Most lenders offer some level of assistance. It’s going to be tough and take a lot of work… but you may be able to get your interest rate reduced and/or temporarily reduce or pause your payments.

Most of the time, lenders will want to steer you to refinance your loan, but by the time you are a few payments behind, you probably do not qualify for a reduction in the interest rate.

Brutal. That’s the best word to describe the typical experience most people have when negotiating with their mortgage lender. You have to be relentlessly persistent. You have to be willing to let your pride go out the window. You’re going to have to call, call again and again and again, and email. When you feel fed up and think ” they are trying to fleece me” you’re going to have to swallow It and call again. No matter what happens, don’t be rude. Try not to come across as frantic, but try to get as much help from anyone in a position to help as possible. Reassure the bank that you want to live in your property long term and explain your situation and provide supporting documentation.

If “come hell or high water” you have no plans of leaving your home, then take solace in the fact that most banking institutions can be flexible. Playing catch up. Essentially if you’ve only missed a couple of payments, sometimes your mortgage company will just add the sum of your missed payments back onto your balance. In the long run, your lenders will more than double their cash outlay, so just talk to them and they’ll want to work it out with you. The last thing they want to do is foreclose because they’d lose a lot of money. If you’ll meet them 1/2 way they will try to figure something out with you.

You’d probably think that this is common sense, but mortgage lenders routinely get stuck in the emotion of the situation and ignore that. Simply put…Remind them.

5. Borrow money from a private investor

If you are behind in your home loan payments and need to sell fast, Glymph Properties will buy it. Depending on your situation, if you would like we may even be able to help you stay in your Boston, Massachusetts home.

We work with Boston homeowners to find solutions to mortgage problems.

We’ll let you know how we can help.


If you have to sell a home near Boston, Massachusetts, we should be able to help you. We buy homes in Boston like yours fast.

Give us a call anytime 888-509-6267 Ext 4 or check-out our web site so that we can buy your Boston, Massachusetts house for cash- http://www.GPBuyshomes.com!

We are glad to help you get answers to your most challenging questions concerning the Boston real estate market, so please feel free to give us a ring at 888-509-6267 Ext 4 and chat with us 24/7/365.

Fill out this form or give us a call anytime at 888-509-6267 Ext 4 for a Fast, Reasonable Cash Offer

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Looking for help to find more high ROI properties to invest in… visit our investor website or give us a call anytime at 888-509-6267 Ext 3

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