On the verge of losing my Riverside family house. I’m extremely behind on my payments, what can I do to prevent foreclosure?

I Missed One Or Two Loan Payments On My Riverside Property – I Need Help!

 Stop Foreclosure 92504

 

Late on house loan? Prevent foreclosure on your Riverside home by reading through this quick post.

Sinking. Hopeless. Overloaded. Lost cause. Frightful. That is how you feel when you get behind on your home loan in a city like Riverside, California.

Man… not only do you have to cover this month’s bill, but now you have to find a way to play catch-up and it isn’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.

Skipped a few home loan payments on your Riverside property but want to avoid foreclosure…. there are a few things you can do to prevent it. So many Riverside, California homes have been stolen via foreclosure, but there are ways to avoid it.

 

1. Personal bankruptcy

No one really wants to file for bankruptcy. If you’re being crushed by a load of debt, bankruptcy can be an easy way to negotiate with lots of creditors at once. It can be a complex process. It will put all your creditors on notice and help you to negotiate a settlement. Your home loan could be one of those. With that being said… it will leave a permanent mark on your credit history. Different creditors will treat your situation in different ways. You’d benefit from serious professional help- the best you can afford.

 

2. Reaffirm

This could be a great way to keep the “hounds at bay”, but this could come with unforeseen issues. Basically, reaffirming the loan is an additional commitment to pay. If your Riverside, California property is auctioned off, an affirmation could cause extra responsibilities.

 

3. Making House Affordable (MHA)

If your mortgage 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’s up to their discretion whether or not they participate in the MHA program.

If your house is underwater, and you are accepted into the MHA program then your principal balance can be lowered as well as your interest rate. Suspended. Reduced. If you are unemployed this is definitely possible.

Be prepared to deal with a lot of paperwork because as I am sure you’re aware MHA is a government program. It is free money, but you are going to have to jump through some hoops to get it.

 

4. Bargain with your bank

Most lenders 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 home loan payment.

If there is even the slightest chance that lenders can make money from your situation they are going to steer you towards refinancing. If you can afford it, and all you are looking for is a brief reprieve from home loan payments then this could work. But… just be aware that ordinarily by the time that you are several payments behind you won’t qualify for a lower interest rate which is where the long term bank loan savings are.

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. Never, ever act rude. Ask for help from everyone you speak with, but do not sound distressed. do not give up. Explain your situation. Offer any supporting documents you have. Most importantly, let the bank know that you are fighting for your property because you plan on living there long term.

If this is really a temporary situation and doesn’t want to give up your property, most lenders would be willing to work together with you. Sometimes they would be willing to add a few months of bank loan payments back onto the primary balance of your loan. Your entire home loan balance is nothing to them. Not even a grain of sand in the Serengeti. Point out that you need a little assistance, and that ultimately they will end up making a lot more money in the future. Banks aren’t in the habit of losing money, so they are incredibly reluctant to foreclose on your property… they would wind up incurring a major loss. They do not want to do it.

It sounds obvious, but for some reason, bankers apparently forget it when they say no to someone in crisis.

 

5. Put Home Ownership On Hold & Sell to Riverside Investor

If you’re behind in your mortgage payments and need to sell fast, we will buy it. Depending on your situation, if you’d like we may even be able to help you stay in your Riverside home.

We work with house owners in Riverside to find solutions to prevent pre-foreclosure.

Give Glymph Properties a call and we will see what we can do for you!

 

If you must get rid of a home near Riverside, California, we should be able to help you. We buy Riverside, California homes like yours quickly.

Give us a call anytime 888-509-6267 Ext 4 or stop by our site so that we can buy your Riverside property for cash- http://www.GPBuyshomes.com!

Glymph Properties is glad to help you uncover answers to your hardest questions concerning selling a house crazy fast in Riverside, California, so please give us a ring at 888-509-6267 Ext 4 and chat with us whenever.

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

Visit our website -See how it works

Check out our blog!

www.gpbuyshomes.com/blog

We are interested in acquiring properties within 60 miles of the following zip codes: 92501, 92503, 92504, 92505, 92506, 92507, 92508, 92509, 92518, 92553, 92557, 92879.

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Do you need to find other high ROI investment properties… explore our investor website or give us a call anytime at 888-509-6267 Ext 3

See how investing works with Glymph Properties

Free investor resources!

www.gpsellshomes.com/blog

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

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

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

www.gprent2own.com/blog

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