Read if you want to prevent foreclosure in Baltimore, Maryland

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Missed a handful of mortgage loan payments? Prevent foreclosure on your Baltimore property by reading this short post.

Missed several mortgage payments on my home in Baltimore. ” It feels like the jackals are circling.”

Besides paying the most recent payment, then you have to worry about playing catch-up on the house loan payments you’ve missed and the fees… It can be challenging.

If you are seriously behind on mortgage payments there are a few options that can help you to avoid foreclosure in Baltimore, Maryland maybe even keep your house. Lots of properties in Baltimore, Maryland have been lost to foreclosure, but there are a lot of ways to avoid it.

1. Signaling with the white flag

Ordinarily, this is the last thing you want to do. If you’re being crushed by lots of debt, bankruptcy can be a great way to negotiate with lots of creditors at once. It really is a complicated process. It will put all your creditors on notice and help you to negotiate a settlement. Your mortgage could be one of those. With that being said… it will leave an everlasting mark on your credit history. Different creditors will treat your situation in unique ways. You would benefit from serious professional help- the best you can afford.

2. Talk to your lenders – let them know you will definitely continue paying your loan as soon as possible

This can be a good card to play, but it may come with some unforeseen consequences. If you reaffirm your commitment to make your home loan payments, you have to make your payments. If your Baltimore property is auctioned, an affirmation could cause extra responsibilities.

3. Making Home Affordable (MHA)

You might be able to participate in the MHA program if your mortgage 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.

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 house loan payments suspended or reduced if you are unemployed.

Be prepared to deal with a lot of paperwork because as I am sure you’re aware MHA is a government program. It isn’t free money, you gotta work for it.

4. Talk directly with your bank

Lots of lenders routinely offer some level of assistance. 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 temporarily stop your payments.

If there is even the slightest chance that lenders can make money from your situation they will steer you towards refinancing. If you can afford it, and all you’re looking for is a temporary break from mortgage 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 home loan savings are.

Negotiating with the bank is like running a marathon, after a marathon, after a decathlon, after an iron man. You have to be relentlessly persistent. You have to be willing to let your pride go out the window. You’re going to have to call, call again and again and again, and email. When you feel fed up and think ” they are not cooperating with me” you’re going to have to swallow It and call again. Never, ever act rude. Ask for help from everyone you speak with, but don’t sound frantic. Explain the situation, offer supporting documents, and reassure the bank that you want to live in your home for the long term.

If you’re in need of a short-term fix and want to stay in your home, a good number of banks can be forgiving. Sometimes they’ll be open to adding a handful of months of mortgage payments back onto the primary balance of your loan. Your entire mortgage loan balance is nothing to them. Not even a grain of sand in the Sahara. Let them know that you need help and that ultimately they’ll end up making a lot more money in the end.. Banks aren’t in the habit of losing profits, so they are remarkably hesitant to foreclose on your house… they would wind up taking a huge loss. They really don’t want to do it.

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

5. Contact a Baltimore, Maryland home buyer

If you are behind in your home loan payments and really need to sell fast, Glymph Properties will buy it. If you don’t want to go into foreclosure but just need a little breathing room, in some circumstances we can assist you.

Glymph Properties work with property owners in Baltimore to find solutions to property foreclosure problems.

We will let you know how we can help.

 

If you must sell a property near 21215, we should be able to help you. We buy Maryland homes like yours extremely fast.

Give Glymph Properties a call anytime 888-509-6267 Ext 4 or fill out the form here so we can buy your Baltimore, Maryland property for cash- www.GPBuyshomes.com!

We are very happy to help you find answers to your most difficult questions about Baltimore real estate, so please give us a ring 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 Fair Cash Offer

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

Check out our blog!

www.gpbuyshomes.com/blog

We are interested in obtaining houses near: 21201, 21202, 21205, 21206, 21210, 21211, 21212, 21213, 21214, 21215, 21216, 21217, 21218, 21223, 21224, 21226, 21229, 21230, 21231, 21239.

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

www.gpsellshomes.com/investment-properties- Baltimore

Free investor resources!

www.gpsellshomes.com/blog

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Trying to find a rent to own house… explore our rent-to-own website or give us a ring anytime at 888-509-6267 Ext 5

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

Check out our rent-to-own blog!

www.gprent2own.com/blog

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