Behind on Mortgage Payments: Frequently Asked Questions
General Questions
Can I Stop Foreclosure If I Am Behind on Mortgage Payments?
Yes, there are ways to stop foreclosure, including loan modifications, repayment plans, or selling your property. Some homeowners may qualify for government programs to help reduce their payments or postpone the auction date.
What Are My Options If I Can’t Afford My Mortgage?
Loan Modification: Work with your lender to adjust the terms of your loan.
Refinancing: Lower your monthly payments by refinancing.
Selling Your Home: Sell your property to pay off the loan balance. Look at our cash offer program to get you the most amount and catch you up if you were behind on mortgage payments.
Deed in Lieu of Foreclosure: Surrender your home to the lender.
Bankruptcy: Consult with a bankruptcy attorney to explore this option.
How Many Mortgage Payments Can I Miss Before Foreclosure?
Foreclosure laws vary by state, but most lenders initiate foreclosure proceedings after 3 payments behind to 4 months behind on mortgage payments. It’s critical to act as soon as you realize you’re falling behind.
How Can I Catch Up If I Am Behind Mortgage Payments?
Consider the following strategies or visit your options on our website
Repayment Plan: Negotiate with your lender to spread out missed payments over several months.
Forbearance: Request temporary suspension or reduction of payments.
Borrowing: Use savings or borrow from family or friends.
Selling: Sell other assets or your home to cover the debt. See how much you can get with our retail buyer program designed for you to come out on top.
Are There Government Programs to Help with Mortgage Payments?
Yes, several government programs assist homeowners, such as:
Home Affordable Modification Program (HAMP)
- Federal Housing Administration (FHA) Loan Forbearance
- VA Loan Programs for veterans
- Visit Hud.gov for questions if you are behind on mortgage
- Visit USA.gov for behind on mortgage payment assistance to see if you qualify
Should I Sell My Home If I’m Behind on Payments?
Selling your home may be a good option if you can’t afford to keep up with payments and have equity in the property. Contact us to determine the market value and explore options.
BEHIND ON MORTGAGE PAYMENTS?
We Can Help
What Is a Short Sale, and How Does It Work?
A short sale occurs when your lender agrees to let you sell the home for less than the amount owed on your mortgage. It’s a viable option to avoid foreclosure but may impact your credit score.
Can a Foreclosure Be Removed From My Credit Report?
Yes, but it takes time. Foreclosures typically stay on your credit report for seven years. During this time, focus on rebuilding your credit by paying bills on time and reducing debts.
Q: What is pre-foreclosure?
A: Pre-foreclosure is the period before your home is officially foreclosed when you still have options to stop the process. Acting quickly during this time is crucial to protecting your home and credit.
Q: How can you help me stop a foreclosure?
A: We specialize in finding tailored solutions—whether it’s reinstating your loan, negotiating with your lender, or helping you sell your home quickly to avoid foreclosure.
Q: Do I have to pay for your services?
A: No, our initial consultations are completely free. We’re here to help you explore your options with no upfront costs.
About The Process
Q: What happens during the consultation?
A: We’ll review your unique situation, explain your options, and create a personalized plan to address your needs. It’s straightforward, judgment-free, and designed to help you take control.
Q: How quickly can you stop an auction?
A: Depending on your case, we can often delay or stop a foreclosure auction within a few days. The sooner you reach out, the more options we’ll have to help you. See our guide on how to delay auctions due to being behind on mortgage payment.
Q: Can I sell my home even if I’m behind on mortgage payments?
A: Yes! We can help you sell your home quickly, even if you’re behind on mortgage payments, to avoid foreclosure and protect your credit.
Working With Us
Q: What makes you different from other companies?
A: We’re not just about transactions; we’re about people. We focus on your needs, provide transparency, and work tirelessly to create the best outcome for you.
Q: Can you work with my lender directly?
A: Absolutely. We have experience negotiating with lenders to reinstate loans, modify terms, or stop foreclosure proceedings.
Q: Do you offer any guarantees?
A: While we can’t guarantee outcomes, we promise to exhaust every option to help you resolve your situation and provide honest, transparent advice throughout the process.
Next Steps
Q: What do I need to get started?
A: All we need is a quick call to understand your situation and a walkthrough of your home. After that, we’ll guide you every step of the way.
Q: How do I schedule a consultation?
A: It’s easy! You can call, text, email us, or book online through our website.
Still Have Questions?
How can I stay or keep living in my home?
Great question. If you want to stay in your home and avoid foreclosure, there are several paths you can take:
Loan Modification: Ask your lender if they can adjust your loan terms to lower payments or make them more manageable.
Repayment Plan: Work out a plan to catch up on missed payments over time.
Forbearance: Request a temporary pause or reduction in your mortgage payments.
Reinstatement: If you can pay the full amount you owe (including fees), you may be able to stop foreclosure and reinstate your loan. Contact us we may be able to pay your reinstatement for you depending on the amount.
Sell Your Home: If staying isn’t an option, selling your home could be a smart financial move. You can sell outright, use a short sale, or work with us a pre-foreclosure specialist.
Can I file for bankruptcy to avoid foreclosure and keep my home?
Yes, bankruptcy can pause foreclosure and give you time to reorganize your finances:
- Chapter 7 Bankruptcy:
- Temporarily halts foreclosure.
- Frees up income by eliminating unsecured debts like credit cards.
- Requires you to separately work out how to catch up on your mortgage.
- Chapter 13 Bankruptcy:
- Lets you create a repayment plan for missed payments over 3-5 years.
- Helps you stay in your home if you can maintain your current mortgage and repayment plan.
Reasons not to do this: Please keep in mind you have to pay a lawyer to file it, it ruins your credit completely, and it doesn’t make the debt just go away like nothing happened. You will still have t repay the debt in monthly payments you can’t afford anyways…
What happens if my house sells at auction? How long do I have to move out?
If your home is sold at a foreclosure auction, the timeline for moving out depends on state laws and the circumstances of the sale.
Eviction Notice: Once the new owner takes legal possession, they can knock on your door the day of the sale at anytime and they must serve you with an eviction notice, which typically gives you 1 to 30 days to vacate.
Are there any fees or commissions to work with you?
This is what makes us stand out from any competitors. There are NO UPFRONT FEES OR COMITMENTS there is a risk free guarantee we offer, once you submit your info we contact you immediately and work to help you with a plan. If we can’t help you it doesn’t cost you anything and you get our professional advice for free
What should I do if I get a foreclosure notice?
Act Fast: Don’t ignore it. Contact your lender to explore options.
Get Expert Help: Speak with us or a HUD-approved housing counselor for free guidance.
Seek Legal Advice: If needed, a foreclosure attorney can explain your rights and options.
Is there any obligation when I submit my info?
There is absolutely zero obligation for you. Once you tell us a bit about your property, we’ll take a look at things, maybe set up a call with you to find out a bit more, and make you an all-cash offer that’s fair for you and fair for us. From there, it’s 100% your decision on whether or not you’d like to sell your home to us… and we won’t hassle you, won’t harass you… it’s 100% your decision and we’ll let you decide what’s right for you.
Free Foreclosure Resources & Guides
- How To Delay Foreclosure Auctions
- How To Stop Foreclosure Info
- FREE Download Foreclosure Secrets Guide
- Visit HUD.gov
- Visit USA.gov
- How to get out of foreclosure