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April 30, 2022

What Options Do You Have After Mortgage Forbearance in Temple Hills?

A forbearance plan helps you with short-term hardships by reducing or pausing your payments for a temporary time. This way, you can get back on your feet while protecting yourself from delinquencies and foreclosure. But what some people forget is that 6 or 12 months comes quickly, and you’ll need to have a plan to repay your missed or reduced payments at this time. 

Let’s learn more about the different options you have after your mortgage forbearance plan in Temple Hills MD. 

Repayment Options Following a Forbearance Plan 

Before your forbearance plan ends, you should reach out to your servicer to see what comes next. Otherwise, they should contact you 30 days from the time your plan is set to end. The purpose of this conversation is to discuss your repayment plans. 

You do not have to pay everything back at once. Here are your options: 

Repayment plan

If you can afford it, you can repay a portion of the missed amount each month. This amount will be spread over a certain number of mortgage payments, and you must pay it when you pay your mortgage. Your mortgage will be higher during this time and return to regular once you pay everything back. 


Another option you have is to pay the total amount missed all at once. The benefit of this option is that you can get back to your regular monthly mortgage payments instead of paying more each month. However, in order to make this work, you must have a lump sum of money available. 


Also known as a partial claim, a deferral moves your missed payments to the end of your loan. This way, you can resume your regular mortgage payments without having to pay extra every month. The lender may also agree to put the missed payments into a subordinate lien that you can pay when you refinance, sell or terminate your mortgage.

Loan Modification

A loan modification can reduce your monthly payments permanently. After you make several payments under a trial period plan, your mortgage payments will be permanently reduced. However, it’s important to note that you might end up paying more over time because the loan will be extended, increasing what you pay in interest. 

Sell Your Temple Hills House for Cash – It’s Quick and Simple! 

Maybe you thought you would get back on your feet quicker than you have. Or perhaps you’ve realized that you can no longer afford your home. If this is the case, you can sell your house in Temple Hills for cash

4 Brothers Buy Houses will pay cash for your property! We buy houses in as-is condition, which means you are not responsible for repairs or improvements. There are also no commissions or fees, and we pick up most closing costs. 

Imagine what some cash could do for you? Contact our cash house buyers in Temple Hills today to get your free, no obligation cash offer! 

April 16, 2022

Is Mortgage Forbearance in Washington DC Right for You?

Mortgage forbearance in Washington DC is when your lender allows you to temporarily pay less on your mortgage or pause your mortgage payments due to a hardship. Forbearance does not erase or reduce the amount that you owe on your mortgage, but it does make it easier to work through your hardship at the moment. This way, you do not have to go into foreclosure. 

If you are currently going through a difficult time and can no longer afford your mortgage payments, it’s important to consider all of your options, including forbearance. 

What is Mortgage Forbearance, Exactly? 

Forbearance allows borrowers to pause or lower their monthly mortgage payments while dealing with a short-term crisis, such as a job loss or illness. This helps borrowers avoid delinquency and foreclosure. However, it’s important to know that mortgage forbearance in Washington DC is only a temporary situation. 

The great thing about mortgage forbearance is that it does not show up on your credit report. Your lender will still report you as current on your loan, even though you won’t be making your full payments. Borrowers also don’t have to pay any extra interest. Both the amount of interest and interest rate stay the same. 

How Can You Request Forbearance in Washington DC? 

If you’re facing a hardship, get in touch with your lender right away. Do not stop making your payments without talking to them first. Ask your mortgage lender about forbearance, as well as any other options that may be available to you. 

Forbearance is a rather complicated process. Your lender may require that you request assistance within a certain amount of time after the crisis. And, if you are approved, your mortgage payments will depend on several factors such as the type of loan you have and your servicer. 

The three options your lender may offer you are: 

  • Paused payments, paid during the existing mortgage. In this case, your servicer will allow you to stop making payments on your mortgage for about six months. After this time, you have to pay everything back. 
  • Paused payments, paid at the end of mortgage. If you’re worried about getting one big bill, you can also work with your lender to pay everything back at the end of the loan. You can also take out a separate loan. This option allows you to pause payments for 12 months. 
  • Reduced payments. This option reduces your monthly payments by half for three months. After the three months, you have a year to pay back the reduction. 

Alternatives to Forbearance 

Forbearance is a great option if you want to keep your home, and you’re confident that you’ll be able to pay back the missed payments. For example, if you lost your job but will be finding something comparable right away, forbearance will give you the flexibility you need.

However, if your situation is not temporary, you may want to consider other options. Loan modification, for example, changes the original mortgage terms permanently. You don’t skip payments, but rather pay less to make them more manageable. 

Another option is to sell your Washington DC house for cash. You can do this even with a forbearance plan in place. When you sell your home as-is, you get to keep the full offer. You are not responsible for making repairs or improvements, and you can use the money to help your current situation.

Get a Cash Offer from 4 Brothers Buy Houses 

4 Brothers Buy Houses purchase properties throughout Washington DC. We pay cash for homes and buy them as-is, with the whole process taking about two weeks. We even cover most cloning costs. Contact our cash house buyers today and see how much we’ll pay for your home! 

April 3, 2022

How Do Sellers in Virginia Benefit from an ‘As Is’ Home Sale?

Thinking about selling your Virginia house but don’t care to go through the hassle of cleaning, organizing and staging the property? You certainly aren’t alone. More people are choosing to sell their properties as-is, meaning in their current condition, with no upgrades or improvements. But is this really the right fit for you? 

Let’s look at some of the ways that sellers can benefit from selling a property as-is. 

Avoid having to make repairs and improvements. 

Not all homes being sold as-is in Virginia are in poor condition. Sometimes, the homeowner no longer has the money to maintain the property. No matter what condition your home is in, selling as-is relieves you of making repairs, improvements and upgrades. The buyers will know what to expect upfront, though expect to price your property competitively. 

Prepare for a quick closing. 

Selling a home the traditional way can drag on for months. Aside from bank-related hurdles, the buyers might be asking for certain things to be fixed or changed. But in as-is home sale, the process tends to move much faster. As-is sellers are motivated to sell and won’t be spending time and money making repairs – and buyers won’t be asking for them! 

Fewer concerns over the home inspection. 

A home inspection may still be requested by the buyer so that they can be made aware of any major issues. Otherwise, an as-is sale clears the seller of having to make any repairs after the inspection. If the thought of having a home inspection is making your stomach turn, it’s probably best to sell your Virginia home as-is

Spend your time and money elsewhere.

If you have other things going on in your life right now, you don’t need to be worrying about preparing a house for sale. Selling as-is frees up your time and money. You’re not responsible for getting the property move-in ready, and you don’t have to worry about paying for home staging services. This also ends up saving you plenty of stress! 

Attract different types of buyers. 

If you don’t mind working with a cash buyer in Virginia, for example, you’re a perfect candidate to sell your property as-is. As-is home sales draw in different types of buyers – cash investors, real estate agents, house flippers and more. And in many cases, these types of buyers can be easier to work with than traditional buyers because they already have the money! 


Keep in mind that selling a Virginia house as-is does not excuse you from disclosing known-issues about the property. Selling as-is only protects you from defects that you were not aware of. Some of the issues you will have to legally disclose to the buyers include mold, structural defects, foundation issues, a faulty roof and asbestos. 

4 Brothers Buy Houses purchases properties all over Virginia. We buy them in as-is condition and never request anything from the seller. Contact us today to get a free, no obligation cash offer on your house and see what you can be walking away with in just a couple of short weeks! 

2200 Wilson Blvd, Suite 102-140 Arlington, VA 22201