Behind On House Loan Payments… How Can I Keep My Tampa Property Fast?

Help, I am behind in my mortgage loan payments in Tampa, Florida!

 stop foreclosure in 33606

No More Mortgage! Glymph Properties Bought My Tampa, Florida House

Missed several mortgage payments? Behind on your home loan…Browse this post for several ideas on what you can do to prevent and prevent foreclosure.

Hell on Earth. We hear the sob stories all the time about the sense of upcoming disaster that settles around people when they miss several house loan payments in a foreclosure happy city like Tampa that’s known for auctioning people’s homes off.

Not just paying the most recent payment, then you have to worry about playing catch-up on the bank loan payments you have missed and the fees… It can be intimidating.

Skipped a few property payments on your Tampa, Florida house but want to avoid foreclosure…. there are a few things you can do to prevent it. So many Tampa homes have been swiped via foreclosure, but there are numerous ways to avoid it.

1. Chapter 11

Ordinarily, this is the last thing you want to do. Debts piling up. You feel like you are being crushed. Bankruptcy will allow you to lift that burden all at once versus having to negotiate with each lender one on one. It is a complicated process. It will put all your creditors on notice and help you to negotiate a settlement. Your mortgage loan could be one of those. With that being said… it will leave a permanent mark on your credit history. Different creditors will treat your situation in different ways. If you are considering bankruptcy, our advice would be to get professional help.

2. Talk to your lenders – let them know you will definitely continue paying your loan as soon as possible

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. 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.

With MHA, your bank loan payments and/or interest rates might be lowered even the principal balance (if your property is worth less than you owe). If you’re unemployed, you might be able to get your house loan payments temporarily suspended or reduced.

Be prepared to deal with a lot of paperwork because as I am sure you’re aware MHA is a government program. It is not free money, you gotta work for 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.

The most common approach the lenders will take is to have you refinance, but just as an FYI, by the time you are a few home loan payments behind you probably won’t qualify for an interest rate reduction.

Brutal. That is the best word to describe the typical experience most people have when negotiating with their mortgage lender. Patience. Tenacity. Resolve. You have to have them all in order to get through all the red tape. Don’t sink your own ship by being rude. Ask for help from everyone you speak with, but don’t sound hopeless. Explain your situation, offer supporting documents, and reassure the bank that you want to live in your property for the long term.

If this is honestly a temporary situation and doesn’t want to give up your home, most lenders would probably be willing to work with you. If you only missed a handful of payments, and want to keep your home, then sometimes the mortgage company will just add the missed mortgage payments back onto your loan. It’s all about the bottom line with them, so remind them that you need a little bit of their assistance to give them a ton of money in the long haul. Banks are not in the business of losing profits, so they are remarkably hesitant to foreclose on your home… they’d incur a huge loss. They really do not want to do it.

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

5. Take a loan from a private investor

We will help if you’re behind on your payments, and need to sell your Tampa, Florida property. Depending on your situation, if you’d like we may even be able to help you stay in your Tampa property.

Glymph Properties work with homeowners in Tampa to find solutions to prevent foreclosure.

Don’t worry. Give us a call. We will let you know if we can help or not.

 

If you have to get rid of a property near Tampa, we can help you. We buy Tampa homes like yours quickly.

Give us a call anytime 888-509-6267 Ext 4 or check-out our website now- http://www.GPBuyshomes.com!

We are very happy to help you get answers to your toughest questions regarding selling a house very easily in Tampa , Florida , so please get in touch with us 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 Fast, Fair Cash Offer

www.gpbuyshomes.com/sell-my-house-fast-tampa -See how we buy houses fast!

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www.gpbuyshomes.com/blog

We are interested in obtaining properties in: 33602, 33603, 33604, 33605, 33606, 33607, 33609, 33611, 33612, 33616, 33629, 33647.

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Looking to find other extremely high ROI investment properties or land… stop by our investor website or give us a call anytime at 888-509-6267 Ext 3

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Trying to find a rent to own property… have a look at our rent-to-own website or give Glymph Properties a ring anytime at 888-509-6267 Ext 5

www.gprent2own.com/rent-to-own- Tampa

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