If you can't make your mortgage payment

Q What if you miss a payment?

A Call or write to your lender's Loss Mitigation Department. Explain your situation. Be prepared to provide them with financial information. Stay in your home. Contact a HUD-approved housing counseling agency. Call (800) 569-4287 for the housing counseling agency nearest you.

Q What are the options?

A You may be considered for:


  • Forbearance. Your lender may be able to arrange a repayment plan and may even provide a temporary reduction or suspension of payments.
  • Loan modification. You may be able to refinance the debt and/or extend the term of your mortgage.
  • Pre-foreclosure sale. This involves selling your property for an amount less than the amount needed to pay off your mortgage. You may qualify if the loan is at least two months delinquent; you are able to sell your house within three to five months; and a new appraisal shows the value of your home meets HUD program guidelines.
  • Deed-in-lieu of foreclosure. As a last resort, you may be able to voluntarily give back your property to the lender.


Q How do you know if you qualify?

A Your lender will decide.

Source: U.S. Department of Housing and Urban Development