The last domino is falling and I’m about to lose my Oakland, California home. I’m extremely behind on my bank loan payments, what can I do to save it?

Behind On My home loan, But I Seriously Want To Sell My Property. Are There Any Local Oakland, California Investors That Can Help Me!

 stop foreclosure in Oakland

 

Late on mortgage? Prevent foreclosure on your Oakland, California house by reading this succinct article.

Sinking. Impossible. Overwhelmed. Done. Distressing. That is how it feels when you get behind on your home loan in a city like Oakland, California.

Man… not only do you have to pay this month’s bill, but now you have to find a way to play catch-up and it is not like all the other bills in life just stop coming. If anything, when you are behind it just feels like unexpected bills come out of the woodwork.

Late on a few property mortgage payments on your Oakland, California house but want to avoid foreclosure…. there are a few things you can do to prevent it. A whole lot of properties in Oakland have been lost to foreclosure, but there are many ways to avoid it.

 

1. Flying the white flag

Everyone is concerned about bankruptcy- it can be a very challenging process. However, negotiating with all of your lenders at once will alleviate a ton of stress. 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 lenders will treat your situation in unique ways. If you’re considering bankruptcy, our advice would be to get professional help.

 

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 unseen penalties. If you reaffirm your commitment to make your payments, you have to make your payments. If your Oakland, California property is auctioned off, an affirmation could cause extra responsibilities.

 

3. Making Home Affordable (MHA)

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

If your home 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 bank loan payments suspended or reduced if you are unemployed.

Like with anything having to deal with the government MHA is a government program so there’s a ton of paperwork. This “free” money is not completely free… you’ll have to pay for it with your time and energy.

 

4. Hammer out a deal

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 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 reduction in the interest rate.

Brutal. That is the best word to describe the typical experience most people have when negotiating with their mortgage lender. You have to be relentlessly persistent. Your pride kind of has to go out the window. You are 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 are going to have to swallow It and call again. Never, ever act rude. It can be a balancing act. Ask for help from anyone in a position to help, but do not be obnoxious. 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 house because you plan on living there long term.

Let me let you in on a little secret. Banks and lenders are not in the real estate business they are in the mortgage origination business. They don’t want to become landlords. They don’t want you to lose your property, so you can continue paying them. If you only missed just a few payments, and want to keep your house, then sometimes the loan company will just add the missed house loan payments back onto your loan. In time your loan providers will more than 2x their initial investment, so just ask and they will want to make it work with you. Banks aren’t in the business of losing money, so they are incredibly hesitant to foreclose on your house… they’d take a significant loss. They really don’t want to do it.

That sounds obvious, but for some reason, mortgage lenders seem to forget it when they say no to a homeowner in crisis.

 

5. Throw in the towel & Sell to Oakland Investor

Glymph Properties can help if you’re behind on your payments and need to sell your Oakland, California property. Depending on your situation, if you’d like we may even be able to help you stay in your Oakland home.

Glymph Properties work with California house owners to find solutions to foreclosure problems.

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

 

If you need to get rid of a home near Oakland, California, we can help you. We buy Oakland houses like yours extremely fast.

Give us a call anytime 888-509-6267 Ext 4 or fill out the form here now- http://www.GPBuyshomes.com!

We’re very happy to help you discover answers to your most challenging questions about the Oakland, California real estate 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 Glymph Properties a call anytime at 888-509-6267 Ext 4 for a Fast Cash Offer

Check Out Our Website -See how it works

Check out our blog!

www.gpbuyshomes.com/blog

We are interested in purchasing properties in: 94601, 94602, 94603, 94605, 94606, 94607, 94610, 94611, 94612, 94613, 94619, 94621.

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Looking to find other high ROI investment properties… have a look at our investor website or give us a call anytime at 888-509-6267 Ext 3

Visit our investor website

Check out our investment blog!

www.gpsellshomes.com/blog

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

Visit our rent-to-own website

Completely free rent-to-own resources!

www.gprent2own.com/blog

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