The Top Five Secrets to Prevent Foreclosure in Lexington, Kentucky!

I Live In Lexington And Want Help: I Haven’t Paid The Last Few Mortgage Payments On My Home!

 stop foreclosure now Lexington

Behind on mortgage?

Prevent foreclosure on your Lexington home by reading through this short blog.

Being late on your house bank loan is like treading water in the deep end of the swimming pool, then having somebody come up behind you from the edge of the swimming pool and throwing an anvil with ” Lexington, Kentucky foreclosure” printed on it at your head.

Seriously… 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 life’s bills just stop coming. If anything, when you are behind it just feels like unexpected bills come out of the woodwork.

Skipped a few property mortgage payments on your Lexington, Kentucky home but want to avoid foreclosure…. there are a few things you can do to prevent it. A whole lot of properties in Lexington have been lost to foreclosure, but there are various ways to avoid it.

1. Bankruptcy

In most cases, this is the last thing you want to do. However, negotiating with all of your lenders at once will reduce a ton of stress. It is a significant amount of work, and it won’t help you avoid your house loan. Your mortgage lender may handle the process completely different than someone else’s lender. So there is no way Glymph Properties could provide anyone with the exact steps. Get the best professional help you can afford if you are filing bankruptcy.

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 home loan payments, you have to make your payments. In some states where it is allowed, an affirmation can create additional liabilities if your property is auctioned off.

3. MHA Program

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

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. Suspended. Reduced. If you are unemployed this is definitely possible.

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

4. Negotiate with your bank

Call your lender. You’ll learn that nearly all of them have some sort of assistance for this very issue. 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 home loan payments.

The most common approach the lenders will take is to have you refinance, but just as an FYI, by the time you are a few payments behind you probably won’t qualify for an interest rate reduction.

Brutal. That’s the best word to describe the typical experience most people have when negotiating with their mortgage lender. You have to have enough patience to watch concrete dry to get through all the bureaucracy. Regardless of how frustrated you become never be rude. Try not to come across as desperate, but try to get as much help from anyone in a position to help as possible. do not give up. Explain your situation. Offer any supporting documents you have. Most importantly, let the bank know that you are fighting for your property because you plan on living there long term.

If there is no way “on heaven or earth” you could be convinced to leave your home, then take solace in the fact that most lenders can be flexible. Making themselves whole. Essentially if you have only missed one or two payments, sometimes your bank will just compile your missed payments back onto your balance. It is all dollars and cents to them, so remind them that you need their assistance to give them a ton of money in the long haul. Accepting a big loss isn’t on the agenda for the loan companies. They do not want to put your house into foreclosure because they know that if they put in the effort to come to terms with you they will earn a tremendous profit in the end.

If a banker can say no to someone like you who needs their assistance, then obviously they’ve overlooked how their business turns profits and just need a little help remembering.

5. Increase your credit rating and sell your property quickly

If you’re behind in your mortgage loan payments and really need to sell fast, we will buy it. In certain situations, we may even be able to help you stay in your house.

Glymph Properties work with house owners in Lexington, Kentucky to find solutions to prevent foreclosure.

Do not fret. Give us a call. We will let you know if we can help or not.

 

If you must sell a property near Lexington, Kentucky, we can help you. We buy homes in Lexington, Kentucky like yours extremely fast.

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

Glymph Properties is very happy to help you uncover answers to your most difficult questions concerning selling a property very easily in Lexington, so please feel free to get in touch with us at 888-509-6267 Ext 4 and chat with us 24/7/365.

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

Check Out Our Website -See how we buy propertys fast!

Check out our blog!

www.gpbuyshomes.com/blog

We are interested in purchasing properties within 55 miles of the following zip codes: 40502, 40503, 40504, 40505, 40507, 40508, 40509, 40510, 40511, 40513, 40514, 40515, 40516, 40517.

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Looking for help to find more high ROI investment properties… check out our investor website or give us a call anytime at 888-509-6267 Ext 3

Visit our investor website

Check out our investing articles to educate investors!

www.gpsellshomes.com/blog

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

See Glymph Properties Rent-To-Own Properties

Check out our rent-to-own articles to inform renters looking to buy!

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