I really need help! Late on my personal mortgage on my Scottsdale family home.

Behind On My Mortgage Loan, But I Really Want To Sell My Property… Can You Recommend Any Local Scottsdale, Arizona Businesses That Can Help Me!

 we buy properties in Scottsdale , Arizona

 

Missed a number of home loan payments? Prevent foreclosure on your Scottsdale, Arizona home by reading this succinct write-up.

When you go delinquent in your mortgage payments on your Scottsdale, Arizona house, it can feel like you’re being consumed by debt.

Bringing your Past-Due bank loan balance current can feel close to impossible, especially when you don’t even know if you are going to be able to make this months mortgage payment.

Missed a few home mortgage loan payments on your Scottsdale house but want to avoid foreclosure…. there are a few things you can do to prevent it. So many Scottsdale houses have been taken via foreclosure, but there are ways to avoid it.

 

1. Chapter 11

No one really wants to file for bankruptcy. Debts piling up. You feel like you’re being crushed. Bankruptcy would allow you to lift that burden all at once versus having to negotiate with each lender one on one. It is a complex process. It will put all your creditors on notice and help you to negotiate a settlement. Your mortgage loan could be one of those. With that being said, it will leave an everlasting mark on your credit history. Every lender has its own process that it follows for bankruptcies. If you’re considering bankruptcy, our advice would be to get professional help.

 

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. If your Scottsdale property is auctioned, an affirmation could cause extra responsibilities.

 

3. Making house Affordable (MHA)

You might be able to participate in the MHA program if your mortgage 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’re unemployed, you might be able to get your house 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. This “free” money isn’t completely free… you’ll have to pay for it with your time and energy.

 

4. Hammer out a deal

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 mortgage loan 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 mortgage payments behind you probably won’t qualify for an interest rate reduction.

Brutal. That is the best word to describe the typical experience most people have when negotiating with their bank. Usually, it takes lots of calls and the patience of a saint to get through the bureaucracy. Regardless of how frustrated you become never be rude. It really is a balancing act. Ask for help from anyone in a position to help, but do not be desperate. Reassure the bank that you want to live in your house long term and explain your situation and provide supporting documentation.

Let me let you in on a little realized secret. Mortgage lenders aren’t in the real estate business they are in the mortgage origination business. They do not want to be saddled with a house that they’re not properly equipped to handle. They want you to keep your property, so you can continue paying them. Sometimes they will be willing to add a couple of months of bank loan payments back onto the primary balance of your loan. Your mortgage loan balance is pennies to them. Not even a grain of sand in the Arabian Desert. Point out that you need a little patience, and that ultimately they will end up making a lot more money in the future. The last thing they want to do is foreclose because they’d miss out on a ton of money. If you will meet them halfway they will work with you.

If a lender can say no to someone like you who needs their assistance, then realistically they have forgotten how their business turns a profit and just need a little help remembering.

 

5. Sell to a local zip code investor

We can help if you’re behind on your payments and need to sell your Scottsdale, Arizona property. Depending on your situation, if you’d like we may even be able to help you stay in your Scottsdale, Arizona home.

We work with property owners in Scottsdale to find solutions to prevent foreclosure.

We’ll let you know how we can help.

 

If you need to sell a house near Scottsdale, Arizona, we can help you. We buy Arizona homes like yours extremely fast.

Give us a call anytime 888-509-6267 Ext 4 or have a look at our website so that we can buy your Scottsdale property for cash- http://www.GPBuyshomes.com!

Our company is delighted to help you get answers to your most challenging questions about Scottsdale, Arizona real-estate, so please call 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 Reasonable Cash Offer

Check Out Our Website -See how it works

Check out our articles to educate sellers!

www.gpbuyshomes.com/blog

We buy houses in: 85257, 85258, 85260.

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Looking for help to find other extremely high ROI properties to invest in… stop by our investor website or give us a call anytime at 888-509-6267 Ext 3

www.gpsellshomes.com/investment-properties- Scottsdale

Free investor resources!

www.gpsellshomes.com/blog

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Are you searching for a rent to own property… stop by our rent-to-own website or give us a ring anytime at 888-509-6267 Ext 5

Visit our rent-to-own website

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

www.gprent2own.com/blog

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