I really need help! Late on my personal mortgage on my Oakland, California house.

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Late on mortgage? Late on your mortgage loan…Go through this article for several tips and hints on what you can do to prevent and avoid foreclosure.

Being late on your house loan is like wading in the deep end of the pool, then having your best friend come up behind you from the edge of the swimming pool and throwing an anvil with ” Oakland, California foreclosure” printed on it at your head.

Not just paying the most recent payment, then you have to worry about playing catch-up on the mortgage payments you have missed and the fees… It can be challenging.

If you’re severely behind on mortgage payments there are a few options that can help you to avoid foreclosure in Oakland maybe even keep your house. A lot of properties in Oakland have been lost to foreclosure, but there are countless ways to avoid it.

 

1. Chapter 7

This is usually the tool of last resort. If you are being crushed by a load of debt, bankruptcy can be a good way to negotiate with lots of creditors at once. It’s a considerable amount of work, and it won’t help you avoid your home loan. Every lender has its own process that it follows for bankruptcies. If you are considering bankruptcy, our advice would be to get professional help.

 

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. Making Home Affordable (MHA)

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 is 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 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. This “free” money isn’t completely free… you’ll have to pay for it with your time and energy.

 

4. Negotiate

Call your lender. You’ll learn that nearly all of them have some sort of assistance for situations just like this. 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 house loan payments.

Most of the time, lenders will want to steer you to refinance your loan, but by the time you are a few payments behind, you probably don’t qualify for a reduction in your interest rate.

You have to work very hard to negotiate with a bank. Perseverance. Tenacity. Conviction. You have to have them all in order to get through all the red tape. No matter what happens, do not be rude. Ask for help from everyone you speak with, but don’t sound desperate. Reassure the bank that you want to live in your home long term and explain your situation and provide supporting documentation.

If you really want to stay in your Oakland home and make amends with the bank, just make them aware of the situation. Your loan provider is exceedingly forgiving as long as you’re willing to work with them. Playing catch up. Quite simply if you have only missed a handful of payments, sometimes your mortgage provider will just tally your missed payments back onto your balance. It’s all about the cash with your lender. Request their help so that you can send them what you owe. They won’t need to be reminded that they will end up doubling the money they lent you. Taking a tremendous loss isn’t on the agenda for the loan providers. They do not want to put your house into foreclosure because they know that if they work something out with you they will earn an incredible profit in the end.

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

 

5. Sell to an investor

If you’re behind in your home 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 Oakland home.

We work with Oakland, California house owners to find solutions to home loan problems.

Do not worry. Give us a call. We’ll let you know if we can help or not.

 

If you need to sell a home near 94607, we should be able to help you. We buy California houses like yours extremely fast.

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

We’re glad to help you uncover answers to your most difficult questions regarding the Oakland housing market, so please give us a ring at 888-509-6267 Ext 4 and chat with us 24/7/365.

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

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www.gpbuyshomes.com/blog

We are interested in obtaining houses near: 94601, 94602, 94603, 94605, 94606, 94607, 94610, 94611, 94612, 94613, 94619, 94621.

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

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

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