Read if you hope to avoid foreclosure in Boston, Massachusetts

I Own A Home In Boston, Massachusetts And Owe On My House Loan, But I Want To Get Rid Of It!

 house buyers Boston

Sell A StereotypicalHome in Massachusetts ASAP!

Missed a couple of home loan payments? Missed several payments and need a few techniques to prevent and avoid foreclosure on a Boston home then read this article.

Falling behind on your house loan is like treading water in the middle of the Pacific ocean while being circled by sharks, having a person In the only life raft on the face of the planet throw a boulder with “Boston, Massachusetts foreclosure” printed on it at your head.

Despite the fact that you can make your monthly payment, catching up on a late balance can be an overwhelming challenge.

Missed a few house home loan payments on your Boston home but want to avoid foreclosure…. there are a few things you can do to prevent it. So many Boston properties have been stolen via foreclosure, but there are several ways to avoid it.

1. Throwing in the Towel

Most see bankruptcy as the absolute last option. Bills 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 individually. It will not make your home loan vanish, but it will put you on a path to eventually walk away. You will not come out unscathed, but you will survive. Every lender has its own process that it follows for bankruptcies. Get the best professional help you can afford if you are filing bankruptcy.

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 penalties. If you reaffirm your commitment to make your home loan payments, you have to make your payments. In some states where it is allowed, an affirmation can create additional liabilities if your property is auctioned off.

3. Making House Affordable (MHA)

You might be able to participate in the MHA program if your bank loan qualifies. Any loans backed by Fannie Mae or Freddie Mac must be considered for MHA, and other lenders can choose to participate in MHA or not.

With MHA, your mortgage loan payments and/or interest rates might be lowered even the principal balance (if your property is worth less than you owe). If you’re unemployed, you might be able to get your bank loan payments temporarily suspended or reduced.

MHA is a government program, so be prepared to deal with lots of paperwork. It is free money, but you’ll have to jump through some hoops to get it.

4. Hammer out a deal

Call your lender. You’ll learn that nearly all of them have some sort of assistance for this very issue. You have to work hard at it, but you might be able to get your interest rate reduced or a temporary reduction in your mortgage payment.

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 decrease in interest rate.

Brutal. That is the best word to describe the typical experience most people have when negotiating with their bank. Perseverance. Tenacity. Determination. You have to have them all in order to get through all the red tape. Never, ever be rude. Try not to come across as frantic, but try to get as much help from anyone in a position to help as possible. Reassure the bank that you want to live in your property long term and explain your situation and provide supporting documentation.

Let me let you in on a little realized reality… Banks and lenders aren’t in the real estate business they are in the money lending business. They don’t want to be stuck with an investment that they’re not properly equipped to handle. They don’t want you to lose your home, so you can keep paying them. If you only missed a few payments, and want to keep your house, then sometimes the lender will just add the missed payments back onto your loan. Your entire home loan balance is nothing to them. Not even a drop in the basket. Remind them that you need assistance and that in the end, they will end up earning a lot more cash in the future. The last thing they want to do is foreclose because they’d lose a ton of money. If you will meet them halfway they’ll make it work with you.

You would think that this is common sense, but lenders routinely get caught in the emotion of the circumstance and disregard that. Remind them.

5. Increase your credit rating and sell your house quickly

If you’re behind in your bank loan payments and really need to sell fast, we can help. If you don’t want to sell but just need a little help, in some instances we can assist you.

We work with Boston property owners to find solutions to foreclosure problems.

We will let you know what kind of assistance we can provide.

 

If you really need to get rid of a home near 2115, we should be able to help you. We buy homes in Boston, Massachusetts like yours extremely fast.

Give us a call anytime 888-509-6267 Ext 4 or fill out the form here so we can buy your Boston, Massachusetts house for cash- http://www.GPBuyshomes.com!

We are happy to help you discover answers to your toughest questions about selling a house easily in Boston, so please feel free to contact us 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

Check Out Our Website -See how we buy properties fast!

Free seller resources!

www.gpbuyshomes.com/blog

We are interested in purchasing houses within 40 miles of the following zip codes: 02108, 02109, 02110, 02111, 02113, 02114, 02115, 02116, 02118, 02119, 02120, 02121, 02122, 02124, 02125, 02126, 02127, 02128, 02129, 02130, 02131, 02132, 02134, 02135, 02136, 02199, 02205, 02210, 02215.

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Are you looking to find more extremely high ROI properties to invest in… have a look at our investor website or give us a ring anytime at 888-509-6267 Ext 3

Visit our investor website

Free investor resources!

www.gpsellshomes.com/blog

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

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

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

www.gprent2own.com/blog

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