Five approaches to prevent Foreclosure in Baton Rouge, Louisiana

I Own A House In Baton Rouge And Owe On My Bank Loan, But I Want To Get Rid Of It!

 we buy properties in Baton Rouge , Louisiana

Missed handful of mortgage loan payments?

Missed a few payments and need a few tips to prevent and avoid foreclosure on your Baton Rouge, Louisiana property then go through this article.

Missed a couple of mortgage loan payments on my home in Baton Rouge, Louisiana. ” It feels like the wolves are circling.”

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

There are a few choices that can help you to avoid foreclosure in Baton Rouge, Louisiana and maybe even keep your house, even if you are seriously behind in payments. A good deal of homes in Baton Rouge, Louisiana have been lost to foreclosure, but there are a lot of ways to avoid it.

1. Chapter 13

This is usually the last option. However, negotiating with all of your creditors at once will reduce a ton of stress. It will not make your bank loan fade away, but it will put you on a path to eventually walk away. You will not come out unscathed, but you will survive. Your mortgage creditor may handle the process completely different than someone else’s lender. So there is no way we could provide anyone with the exact steps. If you’re considering bankruptcy, our advice would be to get professional help.

2. Reaffirm

Doing so can buy you more time, but may come with more fines. Basically, reaffirming the loan is an additional commitment to pay. In some states where it is allowed, an affirmation can create additional liabilities if your property is auctioned off.

3. MHA Program

You might be able to participate in the MHA program if your bank loan qualifies. 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. If you’re unemployed, you might be able to get your payments temporarily suspended or reduced.

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

4. Hammer out a deal

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 loan 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 decrease in interest rate.

You have to work really hard to negotiate with a bank. You have to have enough patience to watch concrete dry to get through all the bureaucracy. No matter what happens, don’t be rude. Ask for help from everyone you speak with, but do not sound hopeless. Reassure the bank that you want to live in your home long term and explain the situation and provide supporting documentation.

If this is genuinely a temporary situation and doesn’t want to give up your property, most lenders will be willing to work with you. Playing catch up. Quite simply 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. It’s all about the bottom line with them, so remind them that you need their patience to give them much more money over the long haul. Taking an enormous loss is not on the agenda for the loan providers. They don’t want to put your property into foreclosure because they know that if they put in the effort to work something out with you they’ll make a significant profit in the end.

That sounds obvious, but for some reason lenders frequently forget it when saying no to someone in crisis.

5. Increase your credit rating and sell your home quickly

Glymph Properties can help if you are behind on your payments, and need to sell your Baton Rouge house. In specific situations, we may even be able to help you stay in your home.

Glymph Properties work with Baton Rouge house owners to find solutions to prevent foreclosure.

Give us a call and we’ll see what we can do for you!


If you need to sell a home near Baton Rouge, we should be able to help you. We buy homes in Baton Rouge like yours fast.

Give us a call anytime 888-509-6267 Ext 4 or fill out the form here so that we can buy your Baton Rouge property for cash-!

We’re very happy to help you discover answers to your hardest questions about the Baton Rouge housing market, so please feel free to give us a ring at 888-509-6267 Ext 4 and chat with us anytime.

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