The top Lexington investor To Help When you’re Behind On Your bank loan.

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 selling a house in probate in LexingtonBehind on bank loan?

Prevent foreclosure on your Lexington, Kentucky property by reading this short article.

Nightmarish. We hear the stories all the time about the sense of coming disaster that swamps people when they fail to make several house payments in a foreclosure happy city like Lexington that’s known for auctioning people’s homes away.

Not only making the most recent payment, then you have to worry about playing catch-up on the mortgage loan payments you’ve missed and the fees… It can be tricky.

If you are in Lexington, Kentucky and behind on a few mortgage payments, there are a few things you can do to avoid foreclosure. So many Lexington, Kentucky homes have been lost via foreclosure, but there are ways to avoid it.

1. Personal bankruptcy

Everyone is concerned about bankruptcy- it is usually a very complex process. If you’re being crushed by lots of debt, bankruptcy can be an excellent way to negotiate with lots of lenders at once. It won’t make your bank loan evaporate, but it will put you on a path to eventually walk away. You wouldn’t come out unscathed, but you will survive. Your mortgage lender may handle the process completely different than someone else’s creditor. So there’s no way Glymph Properties could provide anyone with the exact process. 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 bank loan payments, you have to make your payments. In some states where it’s allowed, an affirmation can create additional liabilities if your property is auctioned.

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’s up to their discretion whether or not they participate in the MHA program.

The principal balance on your mortgage and even your interest rates may be lowered if you are eligible for the MHA program. If you’re unemployed, you might be able to get your bank loan payments temporarily suspended or reduced.

Like with anything having to deal with the government MHA is a government program so there is a ton of paperwork. It is free money, but you are going to have to jump through some hoops to get it.

4. Negotiate

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.

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 payments behind you probably won’t qualify for an interest rate reduction.

Brutal. That is the best word to describe the typical experience most people have when negotiating with their mortgage lender. You have to be doggedly persistent. Your pride kind of has to 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 shafting me” you’re going to have to swallow It and call again. No matter what happens, do not be rude. It really is a balancing act. Ask for help from anyone in a position to help, but do not be irritating. Reassure the bank that you want to live in your house long term and explain the situation and provide supporting documentation.

Let me let you in on a little realized secret… Mortgage lenders aren’t in the real estate business they are in the money lending business. They do not want to be saddled with a property that they’re not properly equipped to handle. They don’t want you to lose your home, so you can keep paying them. If you only missed a couple of payments, and want to keep your property, then sometimes the loan provider will just add the missed home loan payments back onto your loan. It is all about the bottom line with them, so remind them that you just need a little bit of their help to give them a ton of revenue in the long haul. The last thing that the loan providers want to do is foreclose because they’d lose a load of money. If you will meet them midway they’ll make it work with you.

You’d probably think that this is common sense, but mortgage lenders routinely get trapped in the emotion of the situation and overlook that. Simply put…Remind them.

5. Sell to a local zip code investor

Glymph Properties will help if you are behind on your payments, and need to sell your Lexington, Kentucky property. Depending on your situation, if you would like we may even be able to help you stay in your Lexington property.

We work with Lexington, Kentucky property owners to find solutions to prevent foreclosure.

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


If you need to get rid of a home near Lexington, Kentucky, we can help you. We buy Lexington, Kentucky properties like yours quickly.

Give us a call anytime 888-509-6267 Ext 4 or fill out the form here today-!

We’re delighted to help you find answers to your most difficult questions concerning the Lexington real estate market, so please feel free to give us a ring at 888-509-6267 Ext 4 and chat with us whenever.

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 buy real estate in: 40502, 40503, 40504, 40505, 40507, 40508, 40509, 40510, 40511, 40513, 40514, 40515, 40516, 40517.


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

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