Selling a home in Wichita, Kansas even when super late with payments!

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

 stop foreclosure in Wichita , Kansas

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Missed several mortgage loan payments? Missed several payments and need a few tips to prevent and avoid foreclosure on your Wichita, Kansas home then look over this article.

Nightmarish. We hear ridiculous stories all the time about the sense of imminent disaster that settles around people when they fail to make a number of home mortgage payments in a foreclosure happy city like Wichita, Kansas that’s known to have a high foreclosure rate.

Not just making 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 overwhelming.

Skipped a few house bank loan payments on your Wichita property but want to avoid foreclosure…. there are a few things you can do to prevent it. A whole lot of houses in Wichita have been lost to foreclosure, but there are several ways to avoid it.

1. Throwing in the Towel

This is normally the last option. If you are being crushed by lots of debt, bankruptcy can be a great way to negotiate with lots of creditors at once. It is a complicated process. It will put all your lenders on notice and help you to negotiate a settlement. Your house loan could be one of those. With that being said… it will leave an everlasting mark on your credit history. Every creditor has its own process that it follows for bankruptcies. If you’re considering bankruptcy, our advice would be to get professional help.

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. Making Home Affordable (MHA)

You might be able to participate in the MHA program if your mortgage 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’s up to their discretion whether or not they participate in the MHA program.

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 house loan payments temporarily suspended or reduced.

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

4. Talk directly with your bank

Call your lender. You’ll learn that nearly all of them have some sort of assistance for situations just like this. You have to work hard at it, but you might be able to get your interest rate reduced or a temporary reduction in your bank loan 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 mortgage loan payments behind you probably won’t qualify for an interest rate reduction.

Negotiating with the bank is like running a marathon, after a marathon, after an iron man. Endurance. Tenacity. Strength of mind. You have to have them all in order to get through all the red tape. Don’t sabotage yourself by being impolite. Try not to come across as needy, 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 home long term and explain the situation and provide supporting documentation.

If “come hell or high water” you have no plans of leaving your home, then take solace in the fact that most banking institutions can be forgiving. If you only missed just a few payments, and want to keep your house, then sometimes the mortgage provider will just add the missed payments back onto your loan. It’s all dollars and cents to them, so remind them that you need a little bit of their assistance to give them a significant amount of cash over the long run. Banks aren’t in the business of taking a loss, so they are incredibly hesitant to foreclose on your property… they would take a major loss. They would prefer not to do it.

You would probably think that this is common sense, but occasionally the bankers get stuck in the passion of the circumstance and forget that. Simply put…Remind them.

5. Contact a local Wichita, Kansas investor

We can help if you’re behind on your payments and need to sell your Wichita, Kansas house. Depending on your circumstances, if you’d like we may even be able to help you stay in your Wichita house.

We work with property owners in Wichita to find solutions to prevent pre-foreclosure.

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


If you must sell a house near Wichita, we can help you. We buy homes in Wichita like yours quickly.

Give Glymph Properties a call anytime 888-509-6267 Ext 4 or check out our site now-!

Glymph Properties is very happy to help you uncover answers to your toughest questions concerning Wichita real-estate, so please get in touch with us at 888-509-6267 Ext 4 and chat with us 24/7/365.

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