I Can’t Pay My Mortgage What Do I Do? Contact Us, We Can Help.

I don’t have the money to make my mortgage paymentI Can’t Pay My Mortgage What Do I Do?

It’s Important That You Take Quick Action at the First Signs of Financial Difficulty

When financial circumstances or other unexpected life events impact your ability to make regular mortgage payments, address the issue immediately. With early intervention, cooperation and a well-executed plan, you can work together with a mortgage professional to find a solution to your financial difficulties.

Our Company, GVCPS, is a well-established Real Estate Investment Company. Our staff and business associates at GVCPS have extensive hands-on experience in all areas of real estate ranging from legal, financial advisors, real estate agents, mortgage advisors and financial investors. We also specialize in taking over mortgage payments and the house, townhome or condo associated with the mortgage that are any price, in any condition, in any situation and in any location of Vancouver, BC, the Lower mainland and the Fraser Valley, BC. Contact us for Free Consultation in regards to your situation. By working together, we can help you come up with a plan in regards to your mortgage payment difficulties and create a solution that works for everyone. Office: 604-812-3718 Email: info@gvcps.ca or visit our website for more information: gvcps.ca

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 regarding different options to keep your mortgage in good standing with your lender to avoid foreclosure and we also help you protect equity in the property as well as protect your credit. In every case, the options available to you will depend on your individual circumstances.

Two Ways That We May Be Able to Help You Stay In Your Home While You Resolve Your Financial Difficulties:

  • Short-Term Financial Difficulty Can’t Pay Mortgage Option: If you are temporarily unable to pay 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 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, a modification agreement or create a special payment arrangement with you and you still can’t pay your mortgage payments, ask a Mortgage Problems and Solutions professional at GVCPS about other mortgage options that may be available. Depending on your circumstances, mortgage refinancing or second mortgage options may help in managing your financial situation or our Mortgage Take Over Program at GVCPS may be the best solution in regards to your circumstances. Contact us for Free Consultation. Office: 604-812-3718 Email: info@gvcps.ca or visit our website for more information: gvcps.ca

When Is It Too Late?

Address any difficulties you are having with 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. By then, the formal foreclosure proceeding has started and depending on your payment history with your lender, your lender may be unwilling to accept any outstanding payments from you to reinstate your mortgage. If this happens, the foreclosure process will continue against you. If your lender will not reinstate your mortgage, you will have to attempt to obtain a court order from the Judge who is handing your foreclosure case to reinstate your mortgage to protect your equity in the property as well as protect your credit.

Our Company specializes in taking over mortgage payments and the property associated with the mortgage. We provided you with immediate monthly cash flow management solutions to unmanageable or unwanted mortgage payments along with protecting any equity you may have in the property and protecting your credit. We provide the best value for your property and can provide you with more money with none of the hassles normally involved in selling. We provide immediate solutions that enable people who need to move on from their situation to keep their former monthly mortgage payments in their pocket or bank account.

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 monthly 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.

Contact one of our professional mortgage consultants at GVCPS for Free Consultation. We will discuss the different options that are available to you in regards to your lender. We can help keep your mortgage in good standing with your lender and we can help you lower your mortgage payment by utilizing innovative and creative mortgage strategies that provide you with immediate financial relief and peace of mind regarding your real estate situation. Contact us today for Free Consultation: Office: 604-812-3718 Email: info@gvcps.ca or visit our website for more information: gvcps.ca

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. With this option, you don’t have to go through the foreclosure process and this will not affect your credit.
  • 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 already have missed mortgage payments and are facing PRE-foreclosure.
  • 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. You can also ask your mortgage lender if they are willing to offer you a special payment arrangement unique to your particular financial situation until you resolve your financial difficulties.
  • If you can’t pay your mortgage, another option would be to contact our Company, GVCPS. We buy houses, duplexes, townhomes, condos and multi-family residential development projects that are any price, in any situation and in any location in Vancouver, BCthe Lower Mainland, and Fraser Valley BC, When a default occurs, we help you minimize your loss and reduce the risk. In most cases, we buy your house, townhome or condo as-is even if the property requires extensive repair or renovations, we will buy it.
  • We buy property on terms through our Mortgage Take Over Program – we take over house payments and the property associated with the mortgage. We provide flexible, pre-negotiated terms that can give you the best value for your property and can provide you with more money with none of the hassles normally involved in selling. Contact us for Free Consultation to discuss what solutions we can provide to your real estate situation. Office: 604-812-3718 Email: info@gvcps.ca or visit our website for more information: gvcps.ca

Unable to Pay Mortgage Options

Homeowners can often run into problems that can affect their ability to make their mortgage payments. If you are going through a difficult time and are unable to pay your mortgage payments, contact your mortgage lender right away to address your situation. Most lenders can find the best way to deal with almost any default situation that includes the following:

  • converting a variable rate mortgage to a fixed rate
  • offering a short-term mortgage payment deferral
  • extending the amortization period
  • spreading out missed payments over the total repayment period
  • creating special payment arrangements

If your financial hardship is temporary, your lender may be willing to apply a forbearance to your mortgage. Forbearance is a temporary postponement of mortgage payments. It is a form of repayment relief granted by the lender or creditor in lieu of forcing a property into foreclosure.

If your lender will not agree to create special payment arrangements, refinance your mortgage, enter into a forbearance agreement or modification agreement, we can still provide you with options and solutions. Our Company can help you lower your mortgage payment by utilizing innovative and creative mortgage strategies that provide you with immediate financial relief and peace of mind regarding your real estate situation. Contact us for Free Consultation. Office: 604-812-3718 Email: info@gvcps.ca or visit our website for more information: gvcps.ca

 

 

 

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