Baton Rouge, Louisiana Foreclosure: What can I do to prevent it?

Behind On My mortgage loan, But I Really Need To Sell My Home. Are There Any Local Baton Rouge Businesses That Can Help Me!

Missed several home loan payments?

Behind on your bank loan…Go through this post for a number of strategies on what you can do to prevent and prevent foreclosure.

Falling behind on your property bank loan is like treading water in the deep end of the swimming pool, then having your best friend run to the edge of the pool and throwing a bag of rocks with ” Baton Rouge foreclosure” printed on it at your head.

Bringing your Past-Due bank loan balance current can seem to be impossible, especially when you do not even know if you will be able to make this months mortgage payment.

Skipped a few house payments on your Baton Rouge, Louisiana property but want to avoid foreclosure…. there are a few things you can do to prevent it. Quite a lot of homes in Baton Rouge have been lost to foreclosure, but there are many ways to avoid it.

1. Chapter 11

This is ordinarily the tool of last resort. However, negotiating with all of your lenders at once will relieve a ton of stress. It is a bunch of work, and it will not help you avoid your home loan. Every lender has its own process that it follows for bankruptcies. You would benefit from serious professional help- the best you can afford.

2. Reaffirm

This could be a great way to keep the “hounds at bay”, but this could come with unforeseen issues. Basically, reaffirming the loan is an additional commitment to pay. If your Baton Rouge, Louisiana property is auctioned, an affirmation could cause extra responsibilities.

3. MHA Program

If your mortgage loan qualifies, you might be able to participate in MHA. If you have a loan backed by Freddie Mac or Fannie Mae then you have to be considered for the MHA. However, if you have another lender then it is up to their discretion whether or not they participate in the MHA program.

If your house is underwater, and you are accepted into the MHA program then your principal balance can be lowered as well as your interest rate. If you’re unemployed, you might be able to get your bank loan payments temporarily suspended or reduced.

MHA is a government program, so be prepared to deal with lots of paperwork. It’s free money, but you will have to jump through some hoops to get it.

4. Negotiate with your bank

Most lenders offer some level of assistance. It’s possible. Get your interest rate lowered. Temporarily reduce or stop your bank loan payments. It’s in the realm of possibilities if you work hard and negotiate with your lender.

If there is even the slightest chance that lenders can make money from your situation they are going to steer you towards refinancing. If you can afford it, and all you are looking for is a temporary break from mortgage payments then this could work. But… just be aware that ordinarily by the time that you’re several payments behind you won’t qualify for a lower interest rate which is where the long term mortgage savings are.

You have to work really hard to negotiate with a bank. You have to be relentlessly persistent. You have to be willing to let your pride go out the window. You are going to have to call, call again and again and again, fax, and email. When you feel fed up and think ” they are trying to fleece me” you are going to have to swallow It and call again. Don’t sink your own ship by being rude. Try not to come across as entitled, 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 house long term and explain your situation and provide supporting documentation.

If there’s no way “on heaven or earth” you could be persuaded to leave your property, then take solace in the fact that most banking institutions can be understanding. Sometimes they would be open to adding a couple of months of house loan payments back onto the primary balance of your loan. In the long run, your lenders will more than 2x their cash outlay, so just talk to them and they will want to work it out with you. If they have to sell your house at a foreclosure auction, they’ll end up taking an enormous loss.

It sounds obvious, but for some reason, bankers frequently forget it when they say no to someone in need of assistance.

5. Increase your credit score and sell your property quickly

We will buy your property in Baton Rouge if you’re behind on your payments, and need to sell your Baton Rouge home. Depending on your circumstances, if you’d like we may even be able to help you stay in your Baton Rouge property.

We work with Baton Rouge, Louisiana homeowners to find solutions to home loan problems.

We’ll let you know how we can help.

 

If you have to sell a property near Baton Rouge, Louisiana, we can help you. We buy Baton Rouge, Louisiana properties like yours extremely fast.

Give Glymph Properties a call anytime 888-509-6267 Ext 4 or fill out the form here today- http://www.GPBuyshomes.com!

We’re glad to help you discover answers to your most difficult questions about Baton Rouge, Louisiana real estate, so please give us a ring at 888-509-6267 Ext 4 and chat with us 24/7/365.

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

Visit our website -See how we buy properties fast!

Free seller resources!

www.gpbuyshomes.com/blog

We buy houses near: 70801, 70802, 70805, 70806, 70807, 70808, 70809, 70814, 70815, 70816, 70819, 70820, 70827, 70891.

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Are you looking to find other high ROI investment properties or land… head over to our investor website or give us a ring anytime at 888-509-6267 Ext 3

www.gpsellshomes.com/investment-properties- Baton Rouge

Check out our investing articles to educate investors!

www.gpsellshomes.com/blog

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Trying to find a rent to own House… stop by our rent-to-own website or give Glymph Properties a call anytime at 888-509-6267 Ext 5

Visit our rent-to-own website

Check out our rent-to-own articles to educate renters looking to buy!

www.gprent2own.com/blog

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