Falling behind on mortgage payments is stressful, and it happens to more people than you’d guess. The most important thing to know is that you usually have more than one option. Here’s an overview of the paths people take, so you can have better conversations with the right people.
Talk with your lender
Many people start by calling their loan servicer to ask what options they offer. The answers depend on your loan and your situation, so it’s worth asking directly.
Talk with a housing counselor
HUD-approved housing counselors help homeowners understand their options and prepare to talk with their lender. They’re a good place to get advice from someone who isn’t trying to buy your house.
Talk with an attorney
If you owe more than the house is worth, or you have legal questions, a short sale or real estate attorney can explain what applies to you. We can point you to attorneys we trust.
Sell the house
Some people decide that selling is the right move, either by listing with an agent or by selling as-is to a direct buyer. Listing may bring a higher price if the house is in good shape and there’s time. Selling as-is can be simpler and more certain, with a closing date that fits your plans.
How we help
We’ll walk through each of these with you, plainly and without judgment. If selling to us fits, we buy the house ourselves and close on what we sign. If another option would serve you better, we’ll tell you that too.
This guide is general information, not legal, tax or financial advice. For advice about your situation, please talk with a qualified attorney, lender or housing counselor.
