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Help, I’m Behind in My Mortgage Payments in Miami! 5 Things You Can Do To Help Your Situation
1. Bankruptcy:
This is usually the tool of 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:
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):
If 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:
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.
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 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:
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 Miami to find solutions to foreclosure problems.
We’ll let you know how we can help.
See What Our Clients Have to Say...
It’s important to us that the homeowners we work with have a great experience with us. In the end, we’re not happy if we’re not able to provide you with the solution you want. So, check out what others have said about us. Here’s just a few snippets of what other people we’ve worked with have said.
Want to share your own experience with us? Send us a note to let us know what working with All About Real Estate LLC has been like for you.
“…they bought my house with violations and everything we discussed they did…this company is amazing…”
“I sold my house in Hollywood with no problems. All About Real Estate I highly recommend them, from the start to closing, they bought my house with violations and everything we discussed they did, they are really honest about everything, they closed on the property as promised, honesty, good values, and morals are what I can say about this company. Alex is great and very honest, this company is amazing please call them if you are interested in selling your house with violations and a fast cash deal. Thank you very much, All About Real Estate. To Alex, may God bless you always.”
Julie K.
“This was a fast and smooth sale and they assumed all my issues with this house.”
“I was able to sell my house in Hialeah while working my busy life as a mom, nurse, and wife all the way in Colorado. This was a fast and smooth sale and they assumed all my issues with this house. It has a failed city re-occupancy, violations, and liens. They also closed on the property with occupants and gave us 3 weeks after closing before we had to leave due to the Holidays. Wow, I haven’t worked with a company that had these types of morals and values in a long time. I would highly recommend them to anyone who needs immediate cash for houses with violations, liens and other distressing issues. Thank you All About Real Estate for making this Christmas memorable.”
Margarita M.
“They will buy your house regardless of condition or issue that may exist.”
“This is my 4th transaction with All About Real Estate and every time, the deal is as discussed, no games, no surprises, just honest folks. Everyone on the team is very knowledgeable and they always exceed my expectations with the precise details. They will buy your house regardless of condition or issue that may exist. Gisselle was amazing and Petru has instilled a great deal of focus around consumers. Call them today!”
Sandra S.
Get Your Free Cash Offer Now!
Fill out this form to get your no-obligation all cash offer started!
Get Your Free Offer TODAY!
Fill In This Form To Get Your No-Obligation All Cash Offer Started!
We Can Help You Find Solutions to Foreclosure Problems
There are a few options that can help you to avoid foreclosure in Miami and maybe even keep your house, even if you’re seriously behind in payments. We work with homeowners in Miami to find solutions to foreclosure problems. We’ll let you know how we can help.
Get Your Free Cash Offer Now!
Fill out this form to get your no-obligation all cash offer started!
Get Your Free Offer TODAY!
Fill In This Form To Get Your No-Obligation All Cash Offer Started!
Get More Info On Options To Sell Your Home...
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We buy houses in ANY CONDITION in FL. There are no commissions or fees and no obligation whatsoever. Start by giving us a bit of information about your property or call (786)753-8500.