The Top 5 Secrets to Avoid Foreclosure in New Orleans, Louisiana!

In New Orleans, Louisiana And Really Want Help: I Missed The Last Few Mortgage Payments On My Home!

 home buyers New Orleans , Louisiana

Sell My Gorgeous or “Butt Ugly” New Orleans, Louisiana Property Quickly!

Missed a handful of house loan payments? Prevent foreclosure on your New Orleans property by reading through this quick post.

When you go delinquent on your bank loan payments on your New Orleans, Louisiana property, it can feel like you’re drowning in debt.

Despite the fact that you’re able to make your monthly house loan payment, catching up on an overdue balance can be an overpowering challenge.

If you’re severely behind on house loan payments there are a few options that can help you to avoid foreclosure in New Orleans maybe even sell your home. Tons of houses in New Orleans have been lost to foreclosure, but there are various ways to avoid it.

1. Signaling with the white flag

No one really wants to file for bankruptcy. 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 one on one. It is a complicated process. It will put all your lenders on notice and help you to negotiate a settlement. Your mortgage could be one of those. With that being said… it will leave a permanent mark on your credit history. Your mortgage lender may handle the process completely different than someone else’s creditor. So there is no way Glymph Properties could provide anyone with the exact process. Get the best professional help you can afford if you are filing bankruptcy.

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 New Orleans property is auctioned off, an affirmation could cause extra responsibilities.

3. Making property Affordable (MHA)

If your mortgage loan qualifies, you might be able to participate in MHA. 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 payments and/or interest rates might be lowered even the principal balance (if your house 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 are aware MHA is a government program. It ain’t free money, you gotta work for 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 home loan 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.

Negotiating with the bank is like running a marathon, after a marathon, after a decathlon, after an iron man. Usually, it takes lots of calls and the patience of a saint to get through the bureaucracy. Do not sabotage yourself by being rude. Try not to come across as desperate, 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 house long term and explain your 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 flexible. Sometimes they would be open to adding several months of house loan payments back onto the balance of your loan. Your home loan balance is pennies to them. Not even a grain of sand in the Serengeti. Point out that you need patience, and that when it’s all said and done they will end up earning a lot more cash in the long run. The last thing they want to do is foreclose because they’d lose a heap of money. If you’ll meet them halfway they will work with you.

The logic is sound and based on facts, but bankers routinely get stuck in the passion of the issue and neglect that. Help remind them.

5. Increase your credit score and sell your home quickly

Glymph Properties can help if you’re behind on your payments and need to sell your New Orleans property. In certain circumstances, we may even be able to help you stay in your house.

Glymph Properties work with Louisiana property owners to find solutions to bank loan problems.

Give Glymph Properties a call and we will see what we can do for you!


If you need to get rid of a house near New Orleans, Louisiana, we can help you. We buy Louisiana homes like yours fast.

Give us a call anytime 888-509-6267 Ext 4 or have a look at our website now-!

Our company is very happy to help you uncover answers to your hardest questions about the New Orleans housing market, so please call us 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 Good Cash Offer

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We are interested in buying houses in: 70112, 70113, 70114, 70115, 70116, 70117, 70118, 70119, 70122, 70124, 70125, 70126, 70127, 70128, 70129, 70130, 70131.


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