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76. Help, I’m Behind in My Mortgage Payments in Shively KY!

cash for homes in Shively KY

We Buy Houses In Shively Kentucky. We are legitimate homebuyers in Shively and being in the real estate industry, we have encountered this situation with many past clients. Falling behind on your mortgage payments on your Shively home can feel like your drowning. However, there is hope! When you’re on the edge of facing foreclosure on a property, we can help you solve your problem. (We don’t just buy property in Shively. Actually, we purchase property all over the state. Simply put, we buy houses in Kentucky)

If you’re able to make your monthly payment, getting caught up on the past due balances can be an overwhelming challenge. Do not panic. Get a hold of the situation, and know that you are not alone. This happens to the best of us.

There are a few options that can help you to avoid foreclosure in Shively and maybe even keep your house, even if you’re saying, “I’m seriously behind on my mortgage payments.” Lots of properties in Shively have been lost due to foreclosure, but there are many ways to avoid foreclosure.

Help, I’m Behind in My Mortgage Payments in Shively KY!

1. Apply for bankruptcy in Shively KY:

Sell your home in Shively KYUsually, this is your 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 your property in Shively:

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) in Kentucky:

Shively KY house buyersIf 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 in KY:

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.

housebuyers in Shively KYYou 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.

5. Borrow Money From A Private Investor in Kentucky:

If you’re behind on your mortgage payments and need to sell fast, we can help. In some situations, we may even be able to help you out of your situation and find you a new place to stay.

If you want to actually see the reality of your situation, you should do the math and calculate your mortgage. If what you find scares you, don’t worry, we can help. We work with homeowners in Shively to find solutions to foreclosure problems.

I Want To Sell My House in Shively KY

If you’re tired of examining all of the options and you want help, just contact us! We Buy Property In Kentucky and we offer a hassle-free, realtor-free service to help you with your mortgage paying trouble. We are Kentucky home buyers and we offer cash for houses in Shively in any situation. If you have any questions whatsoever about to sell your house in KY and the surrounding areas, don’t hesitate to reach out to our team!

Give us a call now at (502) 509 - 5676 or fill out the form on this website to get started.

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