I got a ton of past due notices. I would like to sell my Wichita property. Is there anything I can do?

I Own A Home In Wichita And Owe On My House Loan, But I Want To Get Rid Of It!

 house buyers Wichita , Kansas

Missed a couple of home loan payments?

Late on your mortgage loan…Read through this post for a couple of recommendations on what you can do to prevent and prevent foreclosure.

Sinking. Powerless. Swamped. Lost cause. Distressing. That’s how everyone feels if you need to miss a few home payments in a city like Wichita, Kansas.

Even if you can make your mortgage payment, catching up on a past due balance can be an overpowering challenge.

Late on a few house mortgage loan payments on your Wichita property but want to avoid foreclosure…. there are a few things you can do to prevent it. So many Wichita houses have been swiped via foreclosure, but there are numerous ways to avoid it.

1. Personal bankruptcy

No one really wants to file for bankruptcy. If you are being crushed by lots of debt, bankruptcy can be an easy way to negotiate with lots of lenders at once. It’s a considerable amount of work, and it will not help you avoid your mortgage. Every lender has its own process that it follows for bankruptcies. 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 unseen penalties. Basically, reaffirming the loan is an additional commitment to pay. If your Wichita property is auctioned, an affirmation could cause extra responsibilities.

3. MHA Program

If your house 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 is 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. Suspended. Reduced. If you are unemployed this is definitely possible.

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

4. Bargain with your bank

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 temporarily stop your mortgage payments.

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

Brutal. That’s the best word to describe the typical experience most people have when negotiating with their mortgage lender. 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. Try not to come across as desperate, but try to get as much help from anyone in a position to help as possible. 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 home because you plan on living there long term.

If there is no way “on heaven or earth” you could be persuaded to leave your property, then take solace in the fact that most lenders can be understanding. Making themselves whole. Essentially if you have only missed a number of payments, sometimes your loan company will just compile your missed payments back onto your balance. It is all about the bottom line with them, so remind them that you just need their patience to give them a significant pile of revenue in the long run. Taking an incredible loss isn’t on the agenda for the loan providers. They don’t want to foreclose on you because they know that if they come to terms with you they will make a massive profit in the end.

It sounds obvious, but for some reason mortgage lenders frequently forget it when saying no to a homeowner in need of help.

5. Sell to an investor

If you are behind in your bank loan payments and really need to sell fast, we can help. Depending on your situation, if you’d like we may even be able to help you stay in your Wichita house.

Glymph Properties work with house owners in Wichita to find solutions to prevent pre-foreclosure.

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

 

If you need to sell a property near Wichita, Kansas, we should be able to help you. We buy Wichita houses like yours quickly.

Give us a call anytime 888-509-6267 Ext 4 or fill out the form here now- www.GPBuyshomes.com!

Our company is delighted to help you get answers to your toughest questions regarding the Wichita housing market, so please feel free to contact us at 888-509-6267 Ext 4 and chat with us 24/7/365.

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

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Check out our investing articles to educate investors!

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Are you searching for a rent to own property or house… check out our rent-to-own website or give us a call anytime at 888-509-6267 Ext 5

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