What should a homeowner do in Eufaula if they’ve fallen behind on their mortgage payments and in pre-foreclosure or have an auction date set?
Unfortunately, most homeowners who’ve fallen behind get overwhelmed and simply ignore the phone calls, emails, and bill statements… hoping that the problem will go away.
But it won’t.
In fact, the worst thing a homeowner can do is ignore the problem.
But the good news is that homeowners who’ve fallen behind on their payments still have some options — three in particular.
Meet With Your Lender — When a homeowner contacts their mortgage lender to discuss their monthly payments, it indicates that they’re serious about getting caught up, which is good. Lenders might even be willing to temporarily modify the loan to make monthly payments more affordable, defer payments, renegotiate your interest rate, or push back your foreclosure auction date to give you more time.
Reach Out To Government Agencies — If a homeowner’s mortgage lender is unhelpful, then they can reach out to various government agencies for help (such as the National Servicing Center, the US Department of Housing and Urban Development, or the Department of Veteran Affairs). These free services can help homeowners get back on track with their mortgage payments.
Sell Your House For Cash — Finally, homeowners in Eufaula, Alabama can call us at Echo Properties by dialing 334-422-4477 and we’ll make them a fair cash offer on their home. If the homeowner is not underwater (has enough equity), then this can certainly be a way to get out of a too-high mortgage payment. We buy houses in as-is condition and can close quickly to possibly help avoid foreclosure.
Hope that helps!