When you fall behind on your mortgage payments on your Moultrie home, it can cause feelings of stress, uncertainty and overwhelming thoughts.
Even if you’re able to make your monthly payment, it can be very challenging.
There are a few options that can help you to avoid foreclosure in Moultrie and maybe even keep your house, even if you’re seriously behind in payments. Lots of properties in Moultrie have been lost to foreclosure, but there are many ways to avoid it.
I’m Behind in My Mortgage Payments in Moultrie! 5 Things You Can Do To Help Your Situation
1. Negotiate with your bank:
This can be done easier when your mortgage loan is from a local community bank. If your bank is not local, it can be more tricky.
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 your behind payments to the back of your loan to pay at a later time. 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.
2. Apply for local Government or State help
If you are only a few payments behind, your county or state may have a program that may be able to help you.
In Colquitt County, they help with people that are behind on rent, utilities and other housing crisis. You can find them @ www.findhelp.org
3. Bankruptcy:
Bankruptcy is a last resort, if you are thinking: “I’m behind in my mortgage payments in Moultrie, Ga. 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.
4. Reaffirm:
To request a reaffirm on your loan, might be a good option after you have filed bankruptcy. 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.
5. Borrow money from a private investor:
I’m behind in my mortgage payments in Moultrie, what can I do?
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 Moultrie to find solutions to foreclosure problems.
We’ll let you know how we can help.
Give us a call now at
orfill out the form on this website to get started.