Are you in the position “I don’t have the money to make my mortgage payments“, I can’t pay my mortgage what do I do?” or “I’m experiencing difficulties paying my mortgage and need help?” It’s important that you take quick action at the first signs of financial difficulty paying your mortgage.
Our Company, GVCPS Inc., is a well-established Real Estate Investment Company. We specialize in taking over mortgage payments and the house, townhome or condo associated with the mortgage in any location of Vancouver, BC, the Lower Mainland and the Fraser Valley, BC. Contact us for Free Consultation: 604-812-3718.
I Am Having Difficulties Paying My Mortgage and Need Help
Unexpected financial circumstances and other unexpected life events can cause you to have difficulties paying your mortgage each month. With early intervention and a well-executed plan, you will have more options available to you to resolve your mortgage payment problems.
I Can’t Pay My Mortgage What Do I Do? – What Options Do I Have When I Can’t Pay My Mortgage?
We offer Free Consultation to discuss the different options that are available to you to keep your mortgage in good standing with your lender and to help you avoid foreclosure. We provide you with immediate monthly cash flow management solutions to unmanageable or unwanted mortgage payments along with protecting your equity in the property and protecting your credit. We do not charge any fees or real estate commissions.
Other Alternatives For Solving Mortgage Payment Difficulties Include:
- Short-Term Financial Difficulty Can’t Pay Mortgage Option: If you are temporarily facing “difficulties paying my mortgage and need help” and are unable to pay your mortgage payment 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 Can’t Pay Mortgage Option: If you are experiencing difficulties paying your mortgage and you can’t pay your mortgage payments, 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, a modification agreement or create a special payment arrangement with you and you are still facing “difficulties paying my mortgage and need help”, contact us regarding other mortgage options that may be available to you.
Difficulties Paying My Mortgage and Need Help
Address any difficulties you are having with paying your mortgage payments immediately. Acting fast will help to keep your best options open to resolve your situation and to avoid foreclosure.
Do not wait until you receive telephone calls from your mortgage lender or a formal demand letter from your mortgage lender’s lawyer regarding your missed mortgage payments. If you have received a demand letter regarding your missed mortgage payments, depending on your payment history with your lender, your lender may not be willing to accept any outstanding payments from you to reinstate your mortgage. If this happens, the formal foreclosure process will proceed.
I Can’t Pay My Mortgage What Do I Do?
Most of us don’t plan on missing our mortgage payments, however, unforeseen financial circumstances or unexpected life events can impact our ability to make regular mortgage payments and can cause us to fall behind on mortgage payments, leaving us feeling uncomfortable and unsure what to do.
If you can’t pay your mortgage, contact your mortgage lender immediately to see what solutions your lender can provide. Refinancing your mortgage with your lender may help you consolidate debt and lower your current monthly payments on all debts. As well, consolidating debts can help you improve your credit score.
If you can’t pay your full monthly mortgage payment, pay what you can towards the mortgage payment. Show your lender that you are proactive and willing to work towards finding a solution to your situation rather than avoiding the situation and avoiding your lender.
If you are having mortgage payment problems, there are many alternatives available to you rather than wait for your lender to foreclose. The key is to know what you can do when the unanticipated happens.
If You Can’t Pay Your Mortgage Payment, Other Options Include:
- Talk to your mortgage lender about a short term solution. Your lender may be able to offer you a temporary short-term payment deferral. Your mortgage lender may be prepared to offer greater payment flexibilities, particularly if previous lump sum prepayments have been made, or if you have previously chosen an accelerated payment schedule.
- Sell the property through a realtor: Depending on the current real estate market, you may be able to sell the property to pay off your entire mortgage debt in full. Rather than facing foreclosure, list your property with an experienced realtor who can help you sell the property as quickly as possible. Depending on your mortgage lender, they may commence foreclosure proceedings against you immediately if you are behind on your mortgage payments and it is important that your realtor is aware of your situation and timeline to sell the property.
- If you can’t pay your mortgage, an alternative option would be to talk with your mortgage lender to see if they are willing to add any missed payments (arrears) to the mortgage balance and spread them over the remaining mortgage repayment period or to extend the original repayment period (amortization) in order to lower your monthly mortgage payments.
Unable to Pay Mortgage Options – Difficulties Paying My Mortgage and Need Help
We don’t know how many months you have been looking for a solution to your situation. If you are facing unmanageable or unwanted mortgage payments, contact us. We take over mortgage payments and the house, townhome or condo associated with the mortgage regardless of your situation and regardless of the age or condition of the property in any location of Vancouver, BC, the Lower Mainland and the Fraser Valley, BC. Contact us for Free Consultation: 604-812-3718.