mortgage payments? Have you suffered an unexpected life event such as divorce, loss of your job, illness or a short-term or permanent disability that prevents you from working? Are you experiencing difficulty managing your household debt and struggling with your mortgage payments? If you are experiencing short term or long term financial difficulties and struggling with your mortgage payments and as a result, missing your mortgage payments, foreclosure will be inevitable. The stress of your financial situation may cause you to ignore your financial problem. Don’t. If you would like to to get your mortgage payments back on track, you may still have options with your mortgage lender:
Short-Term Financial Difficulty - Struggling With Mortgage Payments, Can’t Pay Mortgage Option:If you are temporarily unable to pay the mortgage payments in full, your lender may be willing to enter into a forbearance agreement with you whereby you and your lender work together to potentially avoid a formal foreclosure proceeding. Your lender will delay their right to exercise foreclosure if you can catch up your missed payments in a certain time period. The time period and the payment plan of the forbearance agreement will depend on the details that are agreed upon by you and your lender.
Long-Term Financial Difficulty - Struggling With Mortgage Payments, Can’t Pay Mortgage Option:If you can’t pay your full mortgage payment indefinitely, your lender may agree to offer a modification of mortgage. Your lender may agree to adjust your monthly payments and the loan period to reflect changes in your financial situation. The interest rate may be modified from an adjustable rate to a fixed rate and penalties may be waived.
What if my lender will not enter into a forbearance agreement or modification agreement and I can’t pay my mortgage loan? I still have mortgage problems and need solutions, what are the options?If your lender will not enter into a forbearance agreement or modification agreement with you and if you are struggling with Mortgage payments and need an immediate solution, consult with a Mortgage Problems and Solutions professional at our Company, GVCPS. Our Company is a well-established real estate investment Company and we can help you.
24 September, 2017 / 2 Comments