Keeping your Baltimore home when you are super behind on your property payments!

I Live In Baltimore, Maryland And Want Help: I Haven’t Paid The Last Few Payments On My Property!

 stop foreclosure Baltimore , Maryland

Missed several bank loan payments?

Behind on your bank loan…Check out this blog for a couple of strategies on what you can do to prevent and avoid foreclosure.

Falling behind on your house loan is like treading water in the middle of the Bermuda Triangle while being circled by sharks, having a person In the only life raft on the face of the planet throw a bag of rocks with “Baltimore, Maryland foreclosure” printed on it at your head.

Man… not only do you have to pay this month’s mortgage, but now you have to find a way to play catch-up and it ain’t like life’s bills just stop coming. If anything… when you are behind it just feels like unexpected bills come out of the woodwork.

If you are in Baltimore and behind on a few bank loan payments, there are a few things you can do to avoid foreclosure. So many Baltimore houses have been lost via foreclosure, but there are numerous ways to avoid it.

1. Personal bankruptcy

Typically, this is the last thing you want to do. Debts piling up. You feel like you’re being crushed. Bankruptcy will allow you to lift that burden all at once versus having to negotiate with each lender one on one. It is a lot of work, and it will not help you avoid your home loan. Different creditors will treat your situation in different ways. If you are 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. Basically, reaffirming the loan is an additional commitment to pay. In some states where it is allowed, an affirmation can create additional liabilities if your property is auctioned.

3. Making Home Affordable (MHA)

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. 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’s a ton of paperwork. This “free” money is not completely free… you’ll have to pay for it with your time and energy.

4. Negotiate

Lots of lenders routinely offer some level of assistance. You have to work hard at it, but you might be able to get your interest rate reduced or a temporary reduction in your payment.

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 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. Usually, it takes lots of calls and the patience of a saint to get through the bureaucracy. Don’t sabotage yourself by being obnoxious. Ask for help from everyone you speak with, but don’t sound needy. Explain the situation, offer supporting documents, and reassure the lender that you want to live in your home for the long term.

If you seriously want to stay in your house and make “nice” with the bank, just let them know. Your mortgage company is exceptionally understanding as long as you’re willing to play ball with them. Playing catch up. Essentially if you’ve only missed a few payments, sometimes your mortgage provider will just add the sum of your missed payments back onto your balance. In the long run, your loan providers will more than double their cash outlay, so just ask and they will want to make it work with you. Banks aren’t in the habit of losing profits, so they are really reluctant to foreclose on your property… they would incur an incredible loss. They would really prefer not to do it.

That sounds obvious, but for some reason mortgage lenders apparently, forget it when saying no to a homeowner in crisis.

5. Sell to a local zip code investor

Glymph Properties will buy your Baltimore, Maryland home if you are behind on your payments, and need to sell your Baltimore home. Depending on your circumstances, if you would like we may even be able to help you stay in your Baltimore, Maryland home.

Glymph Properties work with house owners in Baltimore, Maryland to find solutions to mortgage loan problems.

Don’t be anxious. Give us a call. We will let you know if we can help or not.

 

If you must get rid of a house near 21215, we can help you. We buy homes in Baltimore, Maryland like yours quickly.

Give Glymph Properties a call anytime 888-509-6267 Ext 4 or stop by our website today- www.GPBuyshomes.com!

We’re glad to help you discover answers to your hardest questions regarding selling a property very fast in Baltimore, Maryland, so please give us a ring 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 Good Cash Offer

www.gpbuyshomes.com/sell-my-house-fast-baltimore -See how it works

Free seller resources!

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We buy properties in: 21201, 21202, 21205, 21206, 21210, 21211, 21212, 21213, 21214, 21215, 21216, 21217, 21218, 21223, 21224, 21226, 21229, 21230, 21231, 21239.

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Are you looking to find more extremely high ROI investment properties… stop by 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 property or house… check-out our rent-to-own website or give Glymph Properties a call anytime at 888-509-6267 Ext 5

www.gprent2own.com/rent-to-own- Baltimore

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