We all struggle with things sometimes… for many unforeseen circumstances that affect our finances are a hard time. Mentally, emotionally and relationally… It’s hard to go through financial hardships and even harder sometimes to ask for help. In this article, we’re going to talk about 3 tips to negotiate with your lender in order to help avoid foreclosure.
The 3 most important tips for negotiating with your lender are:
- Be Proactive
- Be Persistent
- Be Courteous But Firm
If you utilize these three strategies for negotiating, you should see a greater chance of successfully negotiating with your lender.
1. Be Proactive
We can’t stress this enough… if you’re not proactive with your lender, it’s going to be nearly impossible to get the same results as if you are. Being proactive in communicating with them as soon as you know you’re having a hardship, being proactive in making payments when you’re in a good financial situation, and being proactive in your communication while navigating your hardship will all make it much easier for you to see results.
2. Be Persistent
Persistence pays… If you’re not getting the answers you want, it’s important to be persistent. Sometimes you talk to the wrong people, sometimes you get someone on a bad day and they just don’t want to help you, even though they can. Sometimes you don’t have the right information when you’re calling and need to call again when you’ve gathered the right information. Whatever situation you find yourself in, it’s important to be as persistent as possible in attempting to negotiate with your lender in regard to your mortgage.
3. Be Courteous But Firm
When you’re speaking with a representative at your lender, it’s important to remember that courtesy will go a long way, but so will being firm. You never want to raise your voice or let your emotions get the better of you even though these are times and places where we feel a lot of emotional stress. It’s super important to remain calm, cool, and collected with your representative.
Don’t be a pushover either though… if what they’re offering realistically won’t work for you. Don’t be afraid to speak up and tell them the solution won’t work for you currently. Make sure that you are kind and courteous when you talk with them and make sure you’re honest and firm about your need for solutions. If you’re not getting the answers you need from the person you’re talking to, ask if there is another person in the office that you could talk to that might be able to further help and understand your situation.
In conclusion, negotiating with your lender isn’t always the most fun thing to do, but it’s very important if you’re about to miss a payment… Use these 3 tips to help negotiate with your lender in order to help get temporary relief from your mortgage and if it’s too late and you’re in need of help from professionals, don’t hesitate to reach out to us for help with mortgage relief!