What can you do to keep your Chicago, Illinois house from going into pre-foreclosure when you are behind on your house loan!

Chicago, Illinois: The Biggest Local Chicago Investors To Buy Your Home Even If You Are A Few Home Loan Payments Behind!

 home buyers Chicago

Missed handful of home loan payments?

Missed a few payments and need a few helpful hints to prevent and avoid foreclosure on a Chicago, Illinois property then look over this article.

Nightmarish. We hear the ridiculous stories all the time about the sense of approaching disaster that swamps homeowners when they miss a number of bank loan payments in a city like Chicago, Illinois that’s known to have a remarkably high foreclosure rate.

Bringing your Past-Due house loan balance current can seem impossible, especially when you don’t even know if you’ll be able to make this months mortgage payment.

There are a few options that can help you to avoid foreclosure in Chicago, Illinois and maybe even keep your house, even if you’re behind on payments. So many Chicago, Illinois properties have been stolen via foreclosure, but there are ways to avoid it.

1. Private bankruptcy

Everyone is concerned about bankruptcy- it is usually a very challenging process. Debts 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 is a considerable amount of work, and it won’t help you avoid your mortgage loan. Different lenders will treat your situation in unique ways. If you are 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. Basically, reaffirming the loan is an additional commitment to pay. In some states where it is allowed, an affirmation can create additional liabilities if your property is auctioned.

3. Making property Affordable (MHA)

You might be able to participate in the MHA program if your mortgage 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. Suspended. Reduced. If you are unemployed this is definitely possible.

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

4. Bargain 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 pause your mortgage payments.

If there is even the slightest chance that lenders can make money from your situation they may steer you towards refinancing. If you can afford it, and all you’re looking for is a temporary break from mortgage payments then this could work. But… just be aware that ordinarily by the time that you’re several payments behind you won’t qualify for a lower interest rate which is where the long term bank 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, and email. When you feel fed up and think ” they are not cooperating with me” you’re going to have to swallow It and call again. Don’t sink your own ship by being rude. It can be a balancing act. Ask for help from anyone in a position to help, but do not be obnoxious. Explain your situation, offer supporting documents, and reassure the lender that you want to live in your home for the long term.

If you sincerely want to stay in your Chicago house and make “nice” with the bank, just tell them. Your lender is exceedingly forgiving as long as you’re willing to play ball with them. Sometimes they would be willing to add a couple of months of home loan payments back onto the primary balance of your loan. It is all about the dollars and cents with your loan provider. Ask them for their help so that you can send them what you owe. They will not need to be reminded that they will end up doubling the money they lent you.. Banks aren’t in the habit of losing profits, so they are really reluctant to foreclose on your property… they would incur an immense loss. They would really prefer not to do it.

If a banker can say no to someone like you who needs their help, then realistically they have forgotten how their industry turns profits and just need a little help remembering.

5. Increase your credit score and sell your property quickly

We will help if you’re behind on your payments, and need to sell your Chicago, Illinois home. Depending on your situation, if you would like we may even be able to help you stay in your Chicago home.

We work with Illinois property owners to find solutions to property foreclosure problems.

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


If you must sell a home near 60626, we can help you. We buy Illinois houses like yours quickly.

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

We’re happy to help you uncover answers to your most difficult questions concerning Chicago properties, so please contact us 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 Reasonable Cash Offer

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We buy homes in: 60018, 60601, 60602, 60603, 60604, 60605, 60606, 60607, 60608, 60609, 60610, 60611, 60612, 60613, 60614, 60615, 60616, 60617, 60618, 60619, 60620, 60621, 60622, 60623, 60624, 60625, 60626, 60628, 60629, 60630, 60631, 60632, 60633, 60634, 60636, 60637, 60638, 60639, 60640, 60641, 60642, 60643, 60644, 60645, 60646, 60647, 60649, 60651, 60652, 60653, 60654, 60655, 60656, 60657, 60659, 60660, 60661.


Looking for help to find other extremely high ROI properties to invest in… head to our investor website or give us a call anytime at 888-509-6267 Ext 3

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