What can I do if I'm behind on my mortgage?

Being behind on your mortgage is serious, but it is not the end of options. Lenders have strong incentives to work with you before a foreclosure, and there are usually several paths available — the right one depends on your specific numbers and how far behind you are.

Mortgage delinquency is stressful, and the instinct is often to avoid the problem. That instinct is understandable and almost always costly. The sooner you understand your full picture, the more paths remain open.

What to do first

Before anything else, open every letter from your lender and note the timeline. Most foreclosure processes have specific notice requirements and reinstatement windows — deadlines that, once missed, eliminate options. Knowing where you are in that timeline is step one.

Paths worth exploring

• Reinstatement. Pay everything past due in one lump sum. Reinstates the loan as if you were current. Requires access to funds — sometimes a family loan, retirement account, or other asset.
• Repayment plan. Your lender may allow you to spread the missed payments over several months on top of regular payments. Less common now but worth asking.
• Loan modification. A permanent change to your loan terms — rate, term, or balance — to make payments sustainable going forward. Requires lender approval and documentation.
• Selling the property. If there is equity, selling — even quickly — lets you pay off the loan, avoid foreclosure, and potentially recover money. We can help you understand what the property is worth and what every exit path looks like.
• Short sale. If you owe more than the property is worth, a short sale with lender approval may be available. Less credit damage than a completed foreclosure.

A Home Transition Review gives you a clear map of every path — including the ones that do not involve selling to us. We will tell you plainly if calling your lender or a housing counselor is the right first step.