Five secrets to prevent Foreclosure in Lexington, Kentucky

I Live In Lexington And Seriously Want Help: I Missed The Last Few Bank Loan Payments On My Home!

 stopping foreclosure in Lexington

Missed a few home loan payments?

Believe it or not… you can avoid foreclosure in Lexington, Kentucky even with a number of missed house payments.

Missed a few mortgage loan payments on my house in Lexington. ” Honestly… it feels like I can’t breathe.”

Even if you can pay your home loan payment, catching up on a delinquent balance can be an over-bearing challenge.

There are a few options that can help you to avoid foreclosure in Lexington and maybe even keep your house, even if you are seriously behind in bank loan payments. So many Lexington homes have been stolen via foreclosure, but there are numerous ways to avoid it.

1. Chapter 13

Most see bankruptcy as the very last option. If you’re being crushed by a load of debt, bankruptcy can be an excellent way to negotiate with lots of creditors at once. It won’t make your house loan disappear altogether, but it will put you on a path to eventually walk away. You are not going to 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. Reaffirm

Doing so can buy you more time, but may come with more penalties. If you reaffirm your commitment to make your house loan payments, you have to make your payments. In some states where it’s allowed, an affirmation can create additional liabilities if your property is auctioned.

3. MHA Program

You might be able to participate in the MHA program if your home 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.

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

4. Negotiate 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 loan 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 home loan payments behind you probably won’t qualify for an interest rate reduction.

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 distressed. Reassure the bank that you want to live in your home long term and explain the situation and provide supporting documentation.

If you’re in need of a short-term fix and want to stay in your home, most lenders can be flexible. If you only missed a number of payments, and want to keep your property, then sometimes the mortgage company will just add the missed house loan payments back onto your loan. It is all about the dollars and cents with your lender. Request their assistance so that you can send them what you owe them. They will not need to be reminded that they’ll end up making twice the money they lent you. If they need to sell your property at an auction, they’ll end up incurring an enormous loss.

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

5. Contact a Lexington, Kentucky investor

We will help if you’re behind on your payments, and need to sell your Lexington, Kentucky house. If you don’t want to sell but just need a little help, in some situations Glymph Properties can help you.

We work with property owners in Lexington to find solutions to prevent pre-foreclosure.

We will let you know how we can help.

 

If you must get rid of a property near 40507, we should be able to help you. We buy Lexington properties like yours quickly.

Give us a call anytime 888-509-6267 Ext 4 or fill out the form here so we can buy your Lexington house for cash- www.GPBuyshomes.com!

We’re delighted to help you find answers to your toughest questions about the Lexington, Kentucky real estate market, so please give us a ring at 888-509-6267 Ext 4 and chat with us whenever.

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

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We buy properties near: 40502, 40503, 40504, 40505, 40507, 40508, 40509, 40510, 40511, 40513, 40514, 40515, 40516, 40517.

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

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