Owning a home is the start of avoiding dealing with the stress of paying rent at the start of each month. You will now have a personal home where you can do whatever you want. Bank of America is the first stop for many people looking to get a lender for their mortgage. The bank is known to have fair interest rates and quick mortgage approval process. But then again, Bank of America lenders are some of the most common among our clients who report difficulty dealing with the bank when they come up against mortgage problems.
Here is what it takes to delay the foreclosure process with Bank of America:
Regular communication between you and the bank
Whenever Bank of America sends you a notice about the foreclosure of your home, ensure that you communicate to them in time. The bank is likely to speed up the process if they clearly see that you are not interested in making the payment. Communicating with the bank should show that you are still committed to ensure that the payments are made.
Show effort that you can pay the delayed payments
Sometimes conditions might be tough amounting to lack of money to pay for the mortgage. It is important to pay the amount partially. The bank will see that you are making an effort to make the payments despite the tough times you are facing. The partial payments should be enough to make the bank rethink about the foreclosure process with Bank of America.
Ask about what it takes to delay foreclosure
We can work with Bank of America on your behalf. In some cases it is possible to negotiate a loan modification, forbearance, or a number of other options that are much better outcomes than bankruptcy and foreclosure.
Talk to a foreclosure attorney
Talking to a foreclosure attorney is another great way on what it takes to delay foreclosure. The attorney should be able to advise you on the laws in the state that talk about the foreclosure process with Bank of America.
However, foreclosure attorneys can be very expensive, whereas there are a number of FREE Texas organizations dedicated to helping homeowners fight to save their homes. For example, Save My Texas Home works with many lenders and government agencies to connect homeowners with their best options for stopping foreclosure and securing home security in the future.
Filing for bankruptcy
Filing for bankruptcy should be taken as the last option. You will still have to prove that you are actually bankrupt and cannot pay for the property. Filing for bankruptcy without a doubt will stall or even stop the whole foreclosure process, but it is still just a temporary measure to buy time. Call us or fill out the form and we’ll get back to you with BETTER options to stop foreclosure now.