{"id":1344,"date":"2021-04-19T00:00:00","date_gmt":"2021-04-19T05:00:00","guid":{"rendered":"https:\/\/chrisbuyshomesstlseller8.carrot.com\/?p=1344"},"modified":"2025-02-15T15:32:57","modified_gmt":"2025-02-15T15:32:57","slug":"behind-in-my-mortgage-payments-in-indianapolis","status":"publish","type":"post","link":"https:\/\/www.chrisbuyshomesindy.com\/blog\/behind-in-my-mortgage-payments-in-indianapolis\/","title":{"rendered":"Help, I\u2019m Behind in My Mortgage Payments in Indianapolis – Chris Buys Homes in Indianapolis"},"content":{"rendered":"
\"I\u2019m

Behind on your mortgage?<\/strong> Read this article for a few tips on what you can to do prevent and avoid foreclosure<\/p><\/div>\n\nWhen you fall behind on your mortgage payments<\/strong><\/em> on your Indianapolis home, it can feel like you\u2019re drowning in debt.\n\nEven if you\u2019re able to make your monthly payment, catching up on a past due\u00a0balance can be an overwhelming challenge.\n\nThere are a few options that can help you to avoid foreclosure in Indianapolis<\/strong><\/em> and maybe even keep your house, even if you\u2019re seriously behind in payments. Lots of properties in Indianapolis have\u00a0been lost to foreclosure, but there are many ways to avoid it.\n

Help, I\u2019m Behind in My Mortgage Payments in Indianapolis! 5 Things You Can Do To Help Your Situation<\/h2>\n

1. Bankruptcy:<\/strong><\/h3>\nThis is usually the tool of last resort. If you\u2019re being crushed by lots of debt,\u00a0bankruptcy can be a good way to negotiate with lots of lenders at once. It\u2019s\u00a0a lot of work, and it won\u2019t help you avoid your mortgage. Different lenders\u00a0will treat your circumstances in unique ways. You\u2019d benefit from serious\u00a0professional help \u2013 the best you can afford.\n

2. Reaffirm:<\/strong><\/h3>\nThis can be a good card to play, but it may come with some unseen penalties.\u00a0Basically, reaffirming the loan is an additional commitment to pay. In some\u00a0states where it\u2019s allowed, an affirmation can create additional liabilities if\u00a0your property is auctioned.\n

3. Making Home Affordable (MFA):<\/strong><\/h3>\nIf your mortgage qualifies, you might be able to participate in MHA. Any\u00a0loans backed by Fannie Mae or Freddie Mac must be considered for MHA,\u00a0and other lenders choose to participate in MFA.\n\nWith MFA, your payments and\/or interest rates might be lowered \u2013 even\u00a0the principal balance (if your home is worth less than you owe). If you\u2019re\u00a0unemployed, you might be able to get your payments temporarily suspended\u00a0or reduced.\n\nMFA is a government program, so be prepared to deal with lots of\u00a0paperwork. It ain\u2019t free money \u2013 you gotta work for it.\n

4. Negotiate with your bank:<\/strong><\/h3>\nLots of lenders routinely offer some level of assistance. You have to work\u00a0hard at it, but you might be able to get your interest rate reduced or a\u00a0temporary reduction in your payment.\n\nMost of the time, lenders will want to steer you to refinance your loan \u2013 but\u00a0by the time you\u2019re a few payments behind, you probably don\u2019t qualify for a\u00a0reduction in interest rate.\n\nYou have to work really hard to negotiate with a bank. Usually, it takes lots\u00a0of calls and the patience of a saint to get through the bureaucracy. Never,\u00a0ever act rude. Ask for help from everyone you speak with, but don\u2019t sound\u00a0desperate. Explain your situation, offer supporting documents, and reassure\u00a0the bank that you want to live in your home for the long term.\n\nIf you\u2019re in need of a temporary fix and want to stay in your home, most\u00a0banks can be forgiving. Sometimes they\u2019ll be willing to add a few months\u00a0of payments back onto the primary balance of your loan. It\u2019s all dollars and\u00a0cents to them, so remind them that you need their help to give them a lot\u00a0more money in the long run. If they have to sell your house at a foreclosure\u00a0auction, they\u2019ll take a huge loss.\n\nThat sounds obvious, but for some reason, bankers seem to forget it when\u00a0saying no to someone in need of help.\n

5. Borrow money from a private investor:<\/strong><\/h3>\nIf you\u2019re behind on your payments and need to sell fast, we can help.\n\nIn certain circumstances, we may even be able to help you stay in your home.\n\nWe work with homeowners in Indianapolis to find solutions to foreclosure\u00a0problems<\/strong>.\n\nWe\u2019ll let you know how we can help.\n

Give us a call now at (317) 526-4712 or\nfill out the form on this website to get started<\/span><\/strong>.<\/a><\/h3>","protected":false},"excerpt":{"rendered":"

When you fall behind on your mortgage payments on your Indianapolis home, it can feel like you\u2019re drowning in debt. Even if you\u2019re able to make your monthly payment, catching up on a past due\u00a0balance can be an overwhelming challenge. There are a few options that can help you to avoid foreclosure in Indianapolis and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[141],"tags":[26,92],"class_list":["post-1344","post","type-post","status-publish","format-standard","hentry","category-reason-to-sell","tag-behind-on-mortgage","tag-sell-my-house-fast"],"_links":{"self":[{"href":"https:\/\/www.chrisbuyshomesindy.com\/wp-json\/wp\/v2\/posts\/1344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chrisbuyshomesindy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chrisbuyshomesindy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chrisbuyshomesindy.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chrisbuyshomesindy.com\/wp-json\/wp\/v2\/comments?post=1344"}],"version-history":[{"count":1,"href":"https:\/\/www.chrisbuyshomesindy.com\/wp-json\/wp\/v2\/posts\/1344\/revisions"}],"predecessor-version":[{"id":18932,"href":"https:\/\/www.chrisbuyshomesindy.com\/wp-json\/wp\/v2\/posts\/1344\/revisions\/18932"}],"wp:attachment":[{"href":"https:\/\/www.chrisbuyshomesindy.com\/wp-json\/wp\/v2\/media?parent=1344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chrisbuyshomesindy.com\/wp-json\/wp\/v2\/categories?post=1344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chrisbuyshomesindy.com\/wp-json\/wp\/v2\/tags?post=1344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}