Nearing Foreclosure in Long Beach… The most effective ways to prevent it!

Long Beach, California: The Most Professional Local Long Beach, California Businesses To Buy Your House Even If You Are Several Home Loan Payments Behind!

 Avoid foreclosure now in Long Beach , California

 

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

If you’re severely behind on bank loan payments there are a few options that can help you to avoid foreclosure in Long Beach, California maybe even sell your house. A whole lot of properties in Long Beach, California have been lost to foreclosure, but there are a number of ways to avoid it.

 

1. Flying the white flag

Ordinarily, this is the last thing you want to do. Bills piling up. You feel like you are being crushed. Bankruptcy will allow you to lift that burden all at once versus having to negotiate with each lender individually. It is a whole lot of work, and it won’t help you avoid your mortgage loan. Every creditor has its own process that it follows for bankruptcies. Get the best professional help you can afford if you are filing bankruptcy.

 

2. Reaffirm

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. In some states where it’s allowed, an affirmation can create additional liabilities if your property is auctioned off.

 

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 is up to their discretion whether or not they participate in the MHA program.

With MHA, your house loan payments and/or interest rates might be lowered even the principal balance (if your house is worth less than you owe). You might be able to get your mortgage 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. It isn’t free money ‘ you gotta work for it.

 

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 possible. Get your interest rate lowered. Temporarily reduce or stop your mortgage loan payments. It’s in the realm of possibilities if you work hard and negotiate with your lender.

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

You have to work diligently to negotiate with a bank. You have to have enough patience to watch concrete dry to get through all the bureaucracy. Don’t sabotage yourself by being obnoxious. It’s a balancing act. Ask for help from anyone in a position to help, but don’t be desperate. Reassure the bank that you want to live in your property long term and explain the situation and provide supporting documentation.

Here’s some insight on a little known secret… Mortgage lenders are not in the real estate business they are in the mortgage origination business. They don’t want to become landlords. They don’t want you to lose your house, so you can keep paying them. Sometimes they will be open to adding several months of bank loan payments back onto the primary balance of your loan. It is all about the bottom line with them, so remind them that you need a little bit of their patience to give them a lot more money over the long haul. Taking a major loss isn’t on the agenda for the loan providers. They don’t want to put your property into foreclosure because they know that if they work a deal out with you they will make a tremendous profit in the end.

The logic is sound and based on facts, but lenders routinely get caught up in the emotion of the circumstances and ignore that. Remind them.

 

5. Increase your credit score and sell your property quickly

If you are behind in your mortgage payments and really want to sell fast, we can help. Depending on your circumstances, if you would like we may even be able to help you stay in your Long Beach, California house.

We work with Long Beach, California property owners to find solutions to property foreclosure problems.

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

 

If you have to get rid of a house near Long Beach, California, we should be able to help you. We buy Long Beach, California homes like yours extremely fast.

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

Glymph Properties is glad to help you find answers to your hardest questions concerning the Long Beach real estate market, so please feel free to get in touch with us at 888-509-6267 Ext 4 and chat with us whenever.

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

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www.gpbuyshomes.com/blog

We buy homes in: 90731, 90755, 90802, 90803, 90804, 90806, 90808, 90813, 90814, 90815, 90822, 90831.

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Do you need to find more high ROI investment properties… pay a visit to our investor website or give us a ring anytime at 888-509-6267 Ext 3

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

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