Selling Isn't the Only Option
If Your Goal Is to Stay, That Deserves Attention Too.
Every homeowner's situation is different, and while we can't guarantee what's possible, there are circumstances where homeowners are able to keep their homes through lender programs or other resources. If staying appears realistic, we'll encourage you to explore it.
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Many homeowners assume that once they've fallen behind, foreclosure is unavoidable. That's not always the case. Depending on your circumstances, there may be alternatives worth exploring before deciding to sell. The earlier you begin asking questions, the more opportunities you may have to find a solution that works for you.
Eligibility Varies — But Options Exist
Options That May Help You Stay in Your Home
Loan Modification
A loan modification changes certain terms of your existing mortgage — such as the interest rate, repayment period, or monthly payment. For some homeowners, this makes payments more affordable and helps them remain in their home.
Repayment Plan
If you've experienced a temporary hardship and are back on your feet, your lender may allow you to repay missed payments over time instead of all at once.
Mortgage Forbearance
For a short-term financial hardship, forbearance may temporarily reduce or pause mortgage payments while you work toward financial recovery.
Refinancing
If you qualify, refinancing may lower your monthly payment or replace your current loan with one that's better suited to your financial situation.
Housing Counseling
HUD-approved housing counselors provide free or low-cost guidance to homeowners struggling with mortgage payments. They can help you understand available programs, communicate with your lender, and create a plan for moving forward.
Stay Engaged
Communicating With Your Lender
If you're behind on your mortgage, it may be tempting to avoid phone calls or letters from your lender. Instead, try to stay engaged.
Your lender may be able to explain available programs, outline important deadlines, or request documentation needed to review your situation. Responding promptly and keeping records of your communication can help make the process smoother. Even if you're unsure of your next step, staying informed is almost always better than avoiding the conversation.
When Staying May Not Be the Best Option
Sometimes, despite everyone's best efforts, keeping the home simply isn't realistic. That can be difficult to hear, but it doesn't mean you've failed.
If your situation has changed significantly, or the cost of keeping the home would continue to create hardship, selling may ultimately provide a stronger foundation for the future. If that's the case, we'll explain your options with honesty and compassion.
Let's Explore Your Options Together
If your hope is to remain in your home, don't assume you've run out of possibilities. A conversation today can help you better understand where you stand and what steps you can take moving forward.