Behind On My Bank Loan Payments… How Can I Sell My Scottsdale, Arizona Home?

In Scottsdale, Arizona And Really Want Help: I Missed The Last Few Bank Loan Payments On My House!

 Sell a home for cash in Scottsdale , Arizona

 

Behind mortgage? Late on your home loan? Browse this article for a couple of tips on what you can do to prevent and avoid foreclosure.

Worst nightmare. We hear the ridiculous stories all the time about the sense of imminent tragedy that consumes homeowners when they fail to make several house loan payments in a foreclosure happy city like Scottsdale, Arizona that is known for auctioning people’s homes off.

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

Late on a few property mortgage payments on your Scottsdale home but want to avoid foreclosure…. there are a few things you can do to prevent it. So many Scottsdale houses have been taken via foreclosure, but there are several ways to avoid it.

 

1. Chapter 11

Everyone is terrified of bankruptcy- it can be a very complex process. If you’re being crushed by a load of debt, bankruptcy can be an easy way to negotiate with lots of creditors at once. It can be a complex process. It will put all your lenders on notice and help you to negotiate a settlement. Your mortgage could be one of those. With that being said, it will leave an everlasting mark on your credit history. Every lender has its own process that it follows for bankruptcies. If you are considering bankruptcy, our advice would be to get professional help.

 

2. Reaffirm

Doing so can buy you more time, but may come with more penalties. Basically, reaffirming the loan is an additional commitment to pay. If your Scottsdale property is auctioned off, an affirmation could cause extra responsibilities.

 

3. Making house Affordable (MHA)

You might be able to participate in the MHA program if your house loan qualifies. 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’s up to their discretion whether or not they participate in the MHA program..

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.

MHA is a government program, so be prepared to deal with lots of paperwork. It isn’t free money ‘ you gotta work for it.

 

4. Negotiate

Lots of lenders routinely offer some level of assistance. You have to work hard at it, but you might be able to get your interest rate reduced or a temporary reduction in your home loan payment.

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

Brutal. That is the best word to describe the typical experience most people have when negotiating with their mortgage lender. Usually, it takes lots of calls and the patience to watch paint dry to get through the bureaucracy. Do not sink your own ship by being rude. Ask for help from everyone you speak with, but do not sound distressed. Explain the situation, offer supporting documents, and reassure the lender that you want to live in your property for the long term.

If “come hell or high water” you have no plans of leaving your house, then bank on the fact that most banking institutions can be flexible. Making themselves whole. Essentially if you have only missed a few payments, sometimes your loan company will just add the sum of your missed payments back onto your balance. Overall your loan providers will more than 2x their initial outlay, so just ask and they will want to make it work with you. The last thing that the banks want to do is foreclose because they would miss out on a load of money. If you will meet them 1/2 way they will work with you.

The logic is sound and based on facts, but occasionally the lenders get caught in the passion of the circumstance and overlook that. Remind them.

 

5. Contact a local Scottsdale investor

Glymph Properties will help if you are behind on your payments, and need to sell your Scottsdale property. If you don’t want to go into foreclosure but just need a little help, in some situations Glymph Properties can help you.

We work with Arizona homeowners to find solutions to prevent foreclosure.

Give Glymph Properties a call and we will see what we can do for you!

 

If you need to get rid of a property near Scottsdale, we can help you. We buy Arizona homes like yours extremely fast.

Give Glymph Properties a call anytime 888-509-6267 Ext 4 or fill out the form here so that we can buy your Scottsdale, Arizona home for cash- www.GPBuyshomes.com!

We are glad to help you discover answers to your toughest questions regarding the Scottsdale real estate market, so please feel free to call us 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, Fair Cash Offer

Visit our website -See how we buy houses fast!

Check out our blog!

www.gpbuyshomes.com/blog

We buy houses in: 85257, 85258, 85260.

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

Visit our investor website

Check out our investing articles to educate investors!

www.gpsellshomes.com/blog

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Searching for a rent to own home… check out our rent-to-own website or give Glymph Properties a call anytime at 888-509-6267 Ext 5

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

Visit our rent-to-own blog!

www.gprent2own.com/blog

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