Help Save My Property! I Am Really Behind On My Baton Rouge House Loan.

I Missed Several Bank Payments On My Baton Rouge, Louisiana Home- I Really Want Guidance!

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Behind on mortgage loan? Whether you believe it or not… you can prevent foreclosure in Baton Rouge, Louisiana even with a lot of missed home payments.

Being late on your house home loan is like wading in the deep end of the swimming pool, then having somebody saunter over to the edge of the pool and throwing a bag of rocks with ” Baton Rouge foreclosure” printed on it at your head.

Despite the fact that you are able to make your mortgage loan payment, catching up on a past due balance can be an overwhelming challenge.

If you’re behind on house loan payments there are a few options that can help you to avoid foreclosure in Baton Rouge, Louisiana maybe even sell your house. A good deal of houses in Baton Rouge, Louisiana have been lost to foreclosure, but there are countless ways to avoid it.

1. Chapter 13

Most see bankruptcy as the absolute last option. If you’re being crushed by a load of debt, bankruptcy can be a good way to negotiate with lots of lenders at once. It is a complicated process. It will put all your creditors on notice and help you to negotiate a settlement. Your home loan could be one of those. With that being said… it will leave an everlasting mark on your credit history. 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. If you reaffirm your commitment to make your bank loan payments, you have to make your payments. If your Baton Rouge, Louisiana property is auctioned, an affirmation could cause extra responsibilities.

3. MHA Program

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

The principal balance on your mortgage and even your interest rates may be lowered if you are eligible for the MHA program. If you are unemployed, you might be able to get your bank loan payments temporarily suspended or reduced.

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

4. Hammer out a deal

Call your lender. You’ll learn that nearly all of them have some sort of assistance for this very issue. 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 temporarily stop your mortgage payments.

If there is even the slightest chance that lenders can make money from your situation they will steer you towards refinancing. If you can afford it, and all you are looking for is a temporary break from bank loan payments then this could work. But… just be aware that ordinarily by the time that you’re several payments behind you won’t qualify for a lower interest rate which is where the long term house loan savings are.

Negotiating with the bank is like running a marathon, after a marathon, after an iron man. You have to have enough patience to watch concrete dry to get through all the bureaucracy. Never, ever act rude. Ask for help from everyone you speak with, but do not sound needy. Explain the situation, offer supporting documents, and reassure the lender that you want to live in your house for the long term.

Here is some insight on a little known fact. Banks and lenders aren’t in the real estate business they are in the mortgage origination business. They don’t want to become landlords. They want you to keep your house, so you can keep paying them. Sometimes they’ll be willing to add a few months of home loan payments back onto the balance of your loan. In time your lenders will more than 2x their outlay, so just talk to them and they will want to work it out with you. The last thing they want to do is take your property because they’d miss out on a ton of money. If you will meet them 1/2 way they’ll work with you.

The logic is sound and based on facts, but lenders routinely get caught up in the emotion of the issue and disregard that. Simply put…Help remind them.

5. Throw in the towel & Sell to an investor that works in Baton Rouge 

We can help if you are behind on your payments, and need to sell your Baton Rouge, Louisiana property. Depending on your circumstances, if you would like we may even be able to help you stay in your Baton Rouge home.

Glymph Properties work with Baton Rouge property owners to find solutions to bank loan problems.

Don’t worry too much. Give us a call. We will let you know if we can help or not.

 

If you need to get rid of a home near 70884, we can help you. We buy homes in Baton Rouge, Louisiana like yours quickly.

Give Glymph Properties a call anytime 888-509-6267 Ext 4 or fill out the form here so we can buy your Baton Rouge home for cash- http://www.GPBuyshomes.com!

We are delighted to help you discover answers to your hardest questions concerning the Baton Rouge housing market, so please call 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 Reasonable Cash Offer

Visit our website -See how we buy houses fast!

Free seller resources!

www.gpbuyshomes.com/blog

We are interested in purchasing properties in: 70801, 70802, 70805, 70806, 70807, 70808, 70809, 70814, 70815, 70816, 70819, 70820, 70827, 70891.

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

See how investing works with Glymph Properties

Check out our investing articles to educate investors!

www.gpsellshomes.com/blog

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Trying to find a rent to own Property… take a look at our rent-to-own website or give us a ring anytime at 888-509-6267 Ext 5

www.gprent2own.com/rent-to-own- Baton Rouge

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

www.gprent2own.com/blog

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