Five Options to Prevent Foreclosure in Oakland, California

Increase Your Credit Score, Have Your Monthly Mortgage Paid, & Prevent Foreclosure!

 stopping foreclosure in 94607


Late on mortgage loan? Whether you believe it or not… you can prevent foreclosure in Oakland even with a number of late home payments.

Worst nightmare. We hear the sad stories all the time about the sense of impending tragedy that swallows homeowners when they miss several home mortgage payments in a foreclosure happy city like Oakland that is known for auctioning people’s properties away.

Regardless of whether you are able to make your house loan payment, catching up on an overdue balance can be an overwhelming challenge.

There are a few options that can help you to avoid foreclosure in Oakland, California and maybe even keep your house, even if you are behind on bank loan payments. Tons of properties in Oakland have been lost to foreclosure, but there are several ways to avoid it.


1. Throwing in the Towel

No one really wants to file for bankruptcy. However, negotiating with all of your lenders at once will alleviate a ton of stress. It is a significant amount of work, and it won’t help you avoid your mortgage loan. Your mortgage creditor may handle the process completely different than someone else’s lender. So there is no way Glymph Properties could provide anyone with the exact steps. 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:

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


3. MHA Program

You might be able to participate in the MHA program if your house 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. 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’s free money, but you’ll have to jump through some hoops to get it.


4. Bargain with your bank

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 home loan payments.

Most of the time, lenders will want to steer you to refinance your loan, but by the time you’re a few payments behind, you probably do not qualify for a reduction in the 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. Regardless of how frustrated you become never be rude. It truly is a balancing act. Ask for help from anyone in a position to help, but don’t be irritating. don’t give up. Explain your situation. Offer any supporting documents you have. Most importantly, let the bank know that you are fighting for your house because you plan on living there long term.

Let me let you in on a little realized reality. Banks and lenders aren’t in the real estate business they are in the mortgage origination business. They do not want to become landlords. They don’t want you to lose your home, so you can keep paying them. Playing catch up. Basically, if you’ve only missed a couple of payments, sometimes your lender will just compile your missed payments back onto your balance. Your mortgage loan balance is practically nothing to them. Not even a drop in the ocean. Let them know that you need a little help and that at the end they will end up getting a lot more money in the long run. The last thing that the mortgage lenders want to do is take your home because they’d lose a lot of money. If you’ll meet them halfway they will work with you.

If a banker can say no to someone like you who needs their help, then obviously they’ve overlooked how their industry turns a profit and just need a little help remembering.


5. Give up & Sell to Oakland Investor

If you’re behind in your bank loan payments and really want to sell fast, we will buy it. If you don’t want to sell but just need a little help, in some situations we can help you.

Glymph Properties work with Oakland, California property owners to find solutions to prevent pre-foreclosure.

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


If you must sell a property near Oakland, California, we can help you. We buy California homes like yours quickly.

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

We are delighted to help you uncover answers to your toughest questions about Oakland, California real estate, so please get in touch with us at 888-509-6267 Ext 4 and chat with us anytime.

Fill out this form or give Glymph Properties a call anytime at 888-509-6267 Ext 4 for a Fair Cash Offer

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We buy real estate within 60 miles of the following zip codes: 94601, 94602, 94603, 94605, 94606, 94607, 94610, 94611, 94612, 94613, 94619, 94621.


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