Baltimore HUD Homes Blog

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Trying to avoid foreclosure? Help preventing the loss of your home could be closer than you think. A little known area of financial expertise can solve 7 of the major problems leading to foreclosure. It includes the art of negotiating with your current lender on your behalf to address problems which would otherwise cause you to lose your home. The best strategy for using this mortgage negotiation service depends in large part on which of these 7 problems is your greatest home ownership challenge.

1. Are your mortgage payments too high?
If your payments are too high, it could be due either to the loan balance or to your interest rate. If it’s because of your loan balance, it may be possible to lower your payments by reducing the principal loan balance.

2. Is your interest rate too high?
Maybe your payments are too high primarily because of the interest rate. If you find the interest rate overly high - even if you are current on payments - the bank may be willing to consider lowering your interest rate.

3. Is your mortgage upside down or is there too little equity to refinance?
This is a common problem: particularly in hard hit states like Ohio, Florida, and California and some major cities like Baltimore, MD. If you have been turned down for a refinance recently because you didn’t have enough equity, I have good news for you: a mortgage negotiator can help persuade the lender to work out an agreeable solution…..

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