We buy houses in Buford Georgia and provide residents with the ideal way to sell their homes fast by offering cash for houses in Buford GA. When you fall behind on your mortgage payments on your property, it can feel like you’re drowning in debt.
Even if you’re able to make your monthly payment, catching up on a past due balance can be an overwhelming challenge.
There are a few options that can help you avoid foreclosure in Buford GA and maybe keep your house even if you’re struggling with your mortgage payments. Lots of properties have been lost to foreclosure, but as homebuyers in Buford GA, there are many ways to avoid it. We will help you if you’re behind in your mortgage payments.
5 Things You Can Do to Help Your Situation in Buford GA
1. Bankruptcy in Buford:
This is usually the tool of last resort. If you’re being crushed by lots of debt, bankruptcy can be a good way to negotiate with lots of lenders at once. It’s a lot of work, and it won’t help you avoid your mortgage. Different lenders will treat your circumstances in unique ways. You’d benefit from serious professional help – the best you can afford.
2. Reaffirming in Buford, Georgia:
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’s allowed, an affirmation can create additional liabilities if your property is auctioned.
3. Making GA Home Affordable (MFA):
If your mortgage qualifies, you might be able to participate in MHA. Any loans backed by Fannie Mae or Freddie Mac must be considered for MHA. Other lenders choose to participate in MFA.
With MFA, your payments and/or interest rates might be lowered – even the principal balance (if your home is worth less than you owe). If you’re unemployed, you might be able to get your payments temporarily suspended or reduced.
MFA is a government program, so be prepared to deal with lots of paperwork. It ain’t free money – you gotta work for it.
4. Negotiate with your bank in Buford GA:
Lots of lenders routinely 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 payment.
Most of the time, lenders will want to steer you to refinance your loan – but by the time you’re a few payments behind, you probably won’t qualify for a reduction in interest rate.
You have to work really hard to negotiate with a bank. Usually, it takes lots of calls and the patience of a saint to get through the bureaucracy. Never, ever act rude. Ask for help from everyone you speak with, but don’t sound desperate. Explain your situation, offer supporting documents, and reassure the bank that you want to live in your home for the long term.
If you’re in need of a temporary fix and want to stay in your home, most banks can be forgiving. Sometimes, they’ll be willing to add a few months of payments back onto the primary balance of your loan. It’s all dollars and cents to them, so remind them that you need their help to give them a lot more money in the long run. If they have to sell your house at a foreclosure auction, they’ll take a huge loss.
That sounds obvious, but for some reason, bankers seem to forget it when saying no to someone in need of help.
5. Borrow money from a private GA investor:
If you’re behind on your payments and need to sell fast, we can help. In certain circumstances, we may even be able to help you stay in your home.
We work with homeowners in Buford GA to find solutions to foreclosure problems. We’ll let you know how we can help.
Sell My House in Buford GA
As local Buford GA home buyers, it’s important to do all you can to avoid facing the difficulty of paying your mortgage in a tough economy. But, there’s a smarter way for you to avoid all of these hassles, and that is to sell your house in GA quickly for cash. Just reach out to us and we’re ready to help!
Give us a call now at (678) 710-6130 or
fill out the form on this website to get started.
Greg Kurzner, is CEO of Resideum, Atlanta’s Professional Homebuyer company. Greg has been a force in Atlanta real estate for over 30 years. He has been involved in the sale of over 1 Billion in real estate transactions in his career and consistently ranks #1 in sales by units by Atlanta Realtor Association. In addition to Greg being a licensed real estate broker, he is also a licensed general contractor and a nationally-recognized expert in investment real estate.