Selling your Wichita property when you’re really late on your mortgage payments!

In Wichita And Seriously Want Help: I Missed The Last Few Mortgage Payments On My House!

 Avoid foreclosure now in Wichita , Kansas

Behind on bank loan?

Contrary to popular belief… you can avoid foreclosure in Wichita even with a few late house payments.

Sinking. Despairing. Inundated. Lost cause. Completely absurd. That’s how it feels if you need to miss a few home payments in a city like Wichita, Kansas.

Even in the event, you’re able to pay your monthly payment, catching up on an overdue balance can be an overwhelming challenge.

If you are behind on payments there are a few options that can help you to avoid foreclosure in Wichita maybe even keep your home. Tons of properties in Wichita have been lost to foreclosure, but there are several ways to avoid it.

1. Personal bankruptcy

Most people see bankruptcy as the absolute last option. Bills piling up. You feel like you are being crushed. Bankruptcy would allow you to lift that burden all at once versus having to negotiate with each lender one on one. It really is 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. Every lender has its own process that it follows for bankruptcies. If you are 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 unforeseen consequences. Basically, reaffirming the loan is an additional commitment to pay. If your Wichita, Kansas property is auctioned off, an affirmation could cause extra responsibilities.

3. MHA Program

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

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. 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. This “free” money isn’t completely free… you’ll have to pay for it with your time and energy.

4. Hammer out a deal

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 pause your home loan 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 house 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 house 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 doggedly 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, fax, and email. When you feel fed up and think ” they are not trying to help me” you are going to have to swallow It and call again. No matter what happens, don’t be rude. Ask for help from everyone you speak with, but do not sound desperate. don’t give up. Explain your situation. Offer any supporting documents you have. Most importantly, let the bank know that you are fighting for your home because you plan on living there long term.

If you seriously want to stay in your house and make amends with the bank, just make them aware of the situation. Your mortgage lender is remarkably flexible as long as you’re willing to work with them. Making themselves whole. Essentially if you have only missed a handful of payments, sometimes your mortgage company will just compile your missed payments back onto your balance. Your house loan balance is almost nothing to them. Not even a drop in the basket. Let them know that you need patience, and that when it’s all said and done they’ll end up making a lot more revenue in the future. Banks aren’t in the habit of losing profits, so they are incredibly hesitant to foreclose on your property… they would wind up taking an immense loss. They would really prefer not to do it.

It sounds obvious, but for some reason mortgage lenders frequently forget it when saying no to someone in need of assistance.

5. Increase your credit rating and sell your property quickly

If you’re behind in your payments and really need 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 Wichita house.

Glymph Properties work with homeowners in Wichita to find solutions to prevent foreclosure.

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

 

If you really need to sell a property near Wichita, we can help you. We buy Wichita houses like yours fast

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

We’re glad to help you get answers to your most challenging questions about the Wichita housing market, so please give us a ring at 888-509-6267 Ext 4 and chat with us at any time.

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

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

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Looking to find more extremely high ROI investment properties… head to our investor website or give us a ring anytime at 888-509-6267 Ext 3

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

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