Five options to avoid Foreclosure in Birmingham

Please help, I am behind in my bank loan payments in Birmingham, Alabama!

 stop my foreclosure in 35242

Sell my Birmingham, Alabama House fast!


Missed-Several-house loan-Payments? Missed a couple of payments and need a few ideas to prevent and avoid foreclosure on your Birmingham property then go through this article.

Sinking. Impossible. Swamped. Lost cause. Horrifying. That is how everyone feels when you need to miss a few home payments in a city like Birmingham, Alabama.

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

If you’re significantly behind on house loan payments there are a few options that can help you to avoid foreclosure in Birmingham, Alabama maybe even sell your home. Tons of properties in Birmingham, Alabama have been lost to foreclosure, but there are a lot of ways to avoid it.


1. Chapter 11

Everyone is concerned about bankruptcy- it can be a very complex process. However, negotiating with all of your creditors at once will diminish a ton of stress. It can be a complex process. It will put all you 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. Different creditors will treat your situation 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 home 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’s up to their discretion whether or not they participate in the MHA program..

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 home loan payments suspended or reduced if you are unemployed.

Like with anything having to deal with the government MHA is a government program so there is a ton of paperwork. It is free money, but you’ll have to jump through some hoops to get it.


4. Hammer out a deal with your bank

Call your lender. You’ll learn that nearly all of them have some sort of assistance for this very issue. It’s possible. Get your interest rate lowered. Temporarily reduce or stop your mortgage payments. It’s in the realm of possibilities if you work hard and negotiate with your lender.

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

You have to work very hard to negotiate with a bank. You have to have enough patience to watch concrete dry to get through all the bureaucracy. Don’t sink your own ship by being rude. Try not to come across as desperate, 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 you seriously want to stay in your Birmingham property and make amends with the bank, just let them know. Your mortgage provider is remarkably forgiving as long as you’re willing to work with them. Making themselves whole. Pretty much if you’ve only missed a few payments, sometimes your loan company will just add your missed payments back onto your balance. It’s all dollars and cents to them, so remind them that you just need a little bit of their assistance to give them a significant pile of money in the long run. Banks are not in the business of losing money, so they are really reluctant to foreclose on your house, they’d wind up incurring an incredible loss. They do not want to do it.

It sounds obvious, but for some reason, bankers appear to forget it when saying no to a homeowner in need of a little leeway.


5. Sell to a local Birmingham, Alabama investor

If you are behind in your payments and really want to sell fast, we will buy it.

If you don’t want to go into foreclosure but just need a little breathing room, in some situations Glymph Properties can help you.

Glymph Properties work with property owners in Birmingham, Alabama to find solutions to prevent pre-foreclosure.

We will let you know how we can help.

If you need to sell a home near Birmingham, we should be able to help you. We buy Birmingham, Alabama houses like yours quickly.


Give us a call anytime 888-509-6267 Ext 4 or fill out the form here so that we can buy your Birmingham, Alabama home for cash-!

Our company is glad to help you get answers to your hardest questions regarding the Birmingham housing market, so please contact us at 888-509-6267 Ext 4 and chat with us whenever.

Fill out this form or give us a call anytime at 888-509-6267 Ext 4 for a Fast Cash Offer -See how we buy properties fast!

Check out our articles to educate sellers!

We are interested in purchasing houses near: 35061, 35064, 35068, 35094, 35117, 35126, 35127, 35203, 35204, 35205, 35206, 35207, 35208, 35209, 35210, 35212, 35213, 35215, 35217, 35218, 35221, 35222, 35223, 35228, 35233, 35234, 35235, 35242, 35243, 35254.


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

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Searching for a rent to own property… check out our rent-to-own website or give us a ring anytime at 888-509-6267 Ext 5 Birmingham

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


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