Call Us! (715) 952-1067
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Help, I’m Behind in My Mortgage Payments in Wisconsin
– I Buy Houses WI, LLC
August 20, 2019
By Derek Dombeck
Behind on your mortgage?
Read this article for a few tips on what you can to do prevent and avoid foreclosure
When you fall behind on your mortgage payments on your Green Bay home, it can feel like you’re drowning in debt.
Even if you’re able to make your monthly payment, catching up on a past due balance can be an overwhelming challenge.
There are a few options that can help you to
avoid foreclosure in Wisconsin and maybe even keep your house, even if you’re seriously behind in payments. Lots of properties in Wisconsin have been lost to foreclosure, but there are many ways to avoid it.
Our A+ BBB Rating!
Call Us! (715) 952-1067
Get A Cash Offer Today Our Company
Help, I’m Behind in My Mortgage Payments in Wisconsin
– I Buy Houses WI, LLC
August 20, 2019
By Derek Dombeck
Behind on your mortgage?
Read this article for a few tips on what you can to do prevent and avoid foreclosure
When you fall behind on your mortgage payments on your Green Bay home, it can feel like you’re drowning in debt.
Even if you’re able to make your monthly payment, catching up on a past due balance can be an overwhelming challenge.
There are a few options that can help you to avoid foreclosure in Wisconsin and maybe even keep your house, even if you’re seriously behind in payments. Lots of properties in Wisconsin have been lost to foreclosure, but there are many ways to avoid it.
Our A+ BBB Rating!
Help, I’m Behind in My Mortgage Payments in Wisconsin! 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.
Listing vs.
Selling To Us
Which route is quicker?
Puts more cash in your pocket? Has less hassle?
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 Wisconsin to find solutions to foreclosure problems.
We’ll let you know how we can help.
Get Your Fair Cash Offer: Start Below!
We Buy Houses in ANY CONDITION in WI. There are No Commissions, No Fees and No Obligation whatsoever! Start below by giving us a bit of information about your property or call (715) 952-1067..
Call us anytime (715) 952-1067 or connect with us on our website and we’ll lay out all of your options for your specific situation.
Client Reviews…
“We knew within a matter of an hour we wanted him to buy our house… it was just THAT easy.”
“I’d first like to start out by saying that my first impression of Derek of I Buy Houses WI, LLC was nothing less than an immediate comfort level. We knew within a matter of an hour that we wanted him to buy our house because there were so many options available to us that were more than workable for all parties concerned. He was more concerned about his client being comfortable with how the process took place and made sure that everyone was happy with how everything fell into place. We know one thing for sure if there’s anyone we know that wants to sell their house in Wisconsin… I Buy Houses WI, LLC is the way to go. It was just THAT easy.”
Gail Grenke - WI Home Seller
Leave a Reply
“Our situation was complicated, but Derek found a solution to help us that neither a Realtor nor attorney could.
“We traveled down many roads trying to find the right person or group to work with. We needed someone to help us in our situation but had very little success. Then we found Derek. Our situation was complicated, but Derek found a solution to help us that neither a Realtor nor attorney could. Through the challenges of our situation, Derek stood by his decision to help us, not because it would prove to be profitable, but because it was the right thing to do. In today’s society, this is a very difficult trait to find in a businessman. I highly recommend working with Derek and his company.”
Bob & Laura Binder - Wisconsin
Home Seller / Client
Listing vs.
Selling To Us
Which route is quicker?
Puts more cash in your pocket? Has less hassle?
Help, I’m Behind in My Mortgage Payments in Wisconsin! 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 Wisconsin to find solutions to foreclosure problems.
We’ll let you know how we can help.
Get Your Fair Cash Offer: Start Below!
We Buy Houses in ANY CONDITION in WI. There are No Commissions, No Fees and No Obligation whatsoever! Start below by giving us a bit of information about your property or call (715) 952-1067..
Call us anytime (715) 952-1067 or connect with us on our website and we’ll lay out all of your options for your specific situation.
Client Reviews…
“We knew within a matter of an hour we wanted him to buy our house… it was just THAT easy.”
“I’d first like to start out by saying that my first impression of Derek of I Buy Houses WI, LLC was nothing less than an immediate comfort level. We knew within a matter of an hour that we wanted him to buy our house because there were so many options available to us that were more than workable for all parties concerned. He was more concerned about his client being comfortable with how the process took place and made sure that everyone was happy with how everything fell into place. We know one thing for sure if there’s anyone we know that wants to sell their house in Wisconsin… I Buy Houses WI, LLC is the way to go. It was just THAT easy.”
Gail Grenke - WI Home Seller
“Our situation was complicated, but Derek found a solution to help us that neither a Realtor nor attorney could.
“We traveled down many roads trying to find the right person or group to work with. We needed someone to help us in our situation but had very little success. Then we found Derek. Our situation was complicated, but Derek found a solution to help us that neither a Realtor nor attorney could. Through the challenges of our situation, Derek stood by his decision to help us, not because it would prove to be profitable, but because it was the right thing to do. In today’s society, this is a very difficult trait to find in a businessman. I highly recommend working with Derek and his company.”
Bob & Laura Binder - Wisconsin
Home Seller / Client
Leave a Reply
Where We Buy Houses
We are a real estate solutions and investment firm that specializes in helping homeowners get rid of burdensome houses fast. We are investors and problem solvers who can buy your house fast with a fair all cash offer.
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