Behind On Payments… Is There A Way To Sell My Miami, Florida Property?

Help, I am behind on my mortgage loan payments in Miami!

 Avoid foreclosure in Miami , Florida

 

Late on home loan? Missed several payments and need a few ideas to prevent and avoid foreclosure on a Miami property then go through this article.

Sinking. Impossible. Inundated. Done. Daunting. That is how you feel if you get behind on your bank loan in a city like Miami.

Even if you are able to pay your home loan payment, catching up on a past due balance can be an overpowering challenge.

If you’re behind on mortgage loan payments there are a few options that can help you to avoid foreclosure in Miami, Florida maybe even sell your house. So many Miami homes have been stolen via foreclosure, but there are several ways to avoid it.

1. Flying the white flag

In most cases, this is the last thing you want to do. Bills piling up. You feel like you are being crushed. Bankruptcy would allow you to lift that burden all at once versus having to negotiate with each lender individually. It won’t make your house loan evaporate, but it will put you on a path to eventually walk away. You wouldn’t come out unscathed, but you will survive. Different lenders will treat your circumstances in unique ways. Get the best professional help you can afford if you are filing bankruptcy.

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

This can be a good card to play, but it may come with some unforeseen consequences. 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. MHA Program

If your bank 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.

If your home is underwater, and you are accepted into the MHA program then your principal balance can be lowered as well as your interest rate. You might be able to get your mortgage payments suspended or reduced if you are unemployed.

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

4. Hammer out a deal with your bank

Lots of lenders routinely 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 mortgage 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 don’t qualify for a reduction in the interest rate.

You have to work diligently to negotiate with a bank. You have to have enough patience to watch concrete dry to get through all the bureaucracy. Never, ever be rude. Ask for help from everyone you speak with, but do not sound distressed. Explain the situation, offer supporting documents, and reassure the bank that you want to live in your property for the long term.

If you really want to stay in your house and make amends with the bank, just tell them. Your mortgage provider is exceedingly forgiving as long as you are willing to play ball with them. If you only missed a couple of payments, and want to keep your home, then sometimes the mortgage lender will just add the missed bank loan payments back onto your loan. Your mortgage loan balance is nothing to them. Not even a grain of sand in the Gobi Desert. Let them know that you need help and that at the end they will end up making a lot more money in the end. The last thing that the banking institutions want to do is foreclose because they would miss out on a bunch of money. If you will meet them 1/2 way they will make it work with you.

The logic is sound and based in facts, but occasionally the mortgage lenders get caught in the passion of the issue and ignore that. Simply put…Remind them.

5. Get a bridge loan from a private investor

If you’re behind in your payments and need to sell fast, we will buy it. Depending on your situation, if you’d like we may even be able to help you stay in your Miami property.

Glymph Properties work with Miami, Florida house owners to find solutions to bank loan problems.

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

 

If you really need to get rid of a property near Miami, Florida, we should be able to help you. We buy Miami, Florida properties like yours quickly.

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

Glymph Properties is very happy to help you get answers to your toughest questions about Miami, Florida real-estate, 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 Reasonable Cash Offer

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We buy real estate in: 33102, 33125, 33126, 33127, 33128, 33129, 33130, 33131, 33132, 33133, 33135, 33136, 33137, 33138, 33142, 33144, 33145, 33149, 33150, 33194.

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

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Trying to find a rent to own Property… check-out our rent-to-own website or give Glymph Properties a call anytime at 888-509-6267 Ext 5

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