“Help! I’m behind in my mortgage payments.”
When you fall behind on your mortgage payments on your Cherry Hill home, it can feel like you’re drowning in debt.
- Help! I’m Behind in My Mortgage Payments in Cherry Hill
- Bankruptcy
- Reaffirm
- Making Home Affordable (MFA)
- Negotiate With Your Bank
- Borrow money from a private investor
- Expert Solutions for Homeowners
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 to avoid foreclosure in Cherry Hill and maybe even keep your house, even if you’re seriously behind in payments.
Lots of properties in Cherry Hill have been lost to foreclosure, but there are many ways to avoid it.
Get An Offer Today, Sell In A Matter Of Days
Help! I’m Behind in My Mortgage Payments in Cherry Hill: 5 Things You Can Do To Help Your Situation
1. Bankruptcy:
“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. Reaffirm:
“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 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, and 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:
“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 don’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.
Download Your FREE Stop Foreclosure Guide Below
5. Borrow money from a private 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 Cherry Hill to find solutions to foreclosure problems.
We’ll let you know how we can help.
Give us a call now at (856) 281-1157 or
fill out the form on this website to get started.
Facing Foreclosure: Expert Solutions for Homeowners ‘Behind in My Mortgage Payments‘
“As a seasoned real estate investor from Cherry Hill, New Jersey, I’ve witnessed numerous homeowners struggle with missed mortgage payments, fearing foreclosure.”
Falling behind in mortgage payments can be overwhelming, but there are options.
That’s where “Jeff Buys Houses Cash” comes in – an experienced and reputable we buy houses company dedicated to helping homeowners avoid foreclosure.
Consequences of Missed Mortgage Payments
When you’re behind in my mortgage payments, you risk:
- Foreclosure
- Damage to credit score
- Financial instability
- Loss of home equity
Understanding Foreclosure Laws in NJ and PA
Foreclosure laws vary by state:
- New Jersey: 150-day pre-foreclosure period
- Pennsylvania: 30-day pre-foreclosure period
How Jeff Buys Houses Cash Can Help
With over 35 years of investing experience, Jeff has developed expertise in resolving missed mortgage payments.
His solutions work:
- Fast Cash Offers: Sell your property quickly, avoiding foreclosure
- No Realtor Fees: Save thousands in commission costs
- No Repairs or Renovations: Sell as-is
- Guaranteed Sale: Close in as little as 7-10 days
Benefits of Working with Jeff Buys Houses Cash
- Convenience: Jeff handles all aspects of the sale process
- Speed: Jeff’s cash offers and streamlined process enable quick sales
- Transparency: Jeff provides clear communication throughout
- No Obligation: Homeowners are under no obligation to accept Jeff’s offer
Solutions That Work
Jeff understands that every situation is unique.
He takes the time to listen to concerns and develop customized solutions:
- Mortgage Payment Relief: Sell your property, eliminating debt
- Foreclosure Prevention: Avoid foreclosure, protecting your credit
- Short Sale: Sell your property for less than the mortgage balance
Get An Offer Today, Sell In A Matter Of Days
Real-Life Scenarios
Consider the following examples:
- Job Loss: A homeowner faces financial hardship due to job loss.
- Medical Emergency: A family struggles with medical bills.
In both cases, Jeff Buys Houses Cash can provide expert guidance.
Behind in My Mortgage Payments: What to Do Next
If you’re struggling with missed mortgage payments:
- Contact Your Lender: Discuss potential modifications
- Seek Professional Advice: Consult with a financial advisor or attorney
- Explore Alternative Solutions: Consider selling your property
Take the First Step
If you’re behind in my mortgage payments and seeking help, contact Jeff Buys Houses Cash.
Call Jeff directly or fill out the online form to:
- Receive a personalized consultation
- Discuss your specific needs and concerns
- Explore tailored solutions that work for you
Get An Offer Today, Sell In A Matter Of Days
Conclusion
“Facing foreclosure due to missed mortgage payments requires immediate action.”
With “Jeff Buys Houses Cash,” you have a trusted partner.
Jeff’s experience, combined with his commitment to providing solutions that work, ensures a seamless and stress-free experience.
Additional Resources:
For more information on avoiding foreclosure or to learn more about “Jeff Buys Houses Cash,” visit our website.
Our expert team is dedicated to providing guidance and support.
Contact Information:
Phone: (856) 281-1157
Email: sellasis@jeffbuyshousescash.com
Online Form: Complete Form
Let Jeff help you navigate the complex process of missed mortgage payments. Contact him today to experience the difference.