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Q:
I am unable to make up for missed mortgage payments at this time. What are my options? I don't want to lose my home.

I purchased my first house in December. I lost my job in June and have been unable to pay my mortgage payment for the past three months. I have returned to work and although my income is substantially less, I can now resume paying my mortgage payments again. I am not able to make up for the missing mortgage payments at this time, what are my options? I do not want to lose my home. Thanks. -Jordan

Jordan,

The first thing you need to do is contact your mortgage company to see what options they might be able to offer to help you keep your house. There are many solutions to avoid a foreclosure through loss mitigation. Some of the many alternatives to curing a delinquent mortgage include a partial claim, a straight modification, and a forbearance.

For more information, visit the Department of Housing and Urban Development's website.

You can also seek free assistance from one of MMI's HUD certified housing counselors and learn more about MMI's foreclosure prevention services.

Best of luck,

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