How to Talk to Your Home Lender

If your mortgage is delinquent, or if you fear it may be in the near future, the most important thing to do is to take action and contact your lender.

Many lenders engage in responsible loss mitigation practices. For example, if you have the amount of money required to bring your loan current, the mortgage company will reinstate your mortgage. You may also contact your mortgage company and work out a repayment plan. Some other alternatives to foreclosure include a partial claim, straight modification, a permanent hardship, and a deed in lieu of foreclosure. 

If you are facing foreclosure, seek help from a Department of Housing and Urban Development (HUD) approved counseling agency, such as Money Management International (MMI). MMI offers help for homeowners and have housing counselors who are trained on loss mitigation techniques and can help you navigate all of your options. Be sure to check out HUD's study on the positive impact of housing counseling. Following are some tips when working with your lender to prevent foreclosure.

Stay in touch

It is better to contact your lender before they have to contact you. Help the lender understand you are serious about keeping your home by responding to their calls and letters. 

Be realistic

Do not make promises you cannot keep. It is better to admit you cannot pay what they are asking and come to a realistic agreement.

Be responsible

Your lender is focused on helping serious, responsible people who have the commitment and resources to avoid foreclosure. Make sure they understand that you are one of those people they should work with.

For more tips about how to avoid foreclosure, visit

  • Better Business Bureau A+ rating Better Business Bureau
    MMI is proud to have achieved an A+ rating from the Better Business Bureau (BBB), a nonprofit organization focused on promoting and improving marketplace trust. The BBB investigates charges of fraud against both consumers and businesses, sets standards for truthfulness in advertising, and evaluates the trustworthiness of businesses and charities, providing a score from A+ (highest) to F (lowest).
  • Candid GuideStar Gold Transparency level 2022 Candid
    MMI has achieved a Gold Seal of Transparency by Candid (formerly GuideStar), a leading source for insights on thousands of nonprofit organizations. For decades, Candid has provided data that powers hundreds of websites, programs, and applications related to philanthropic giving in order to help grantors make informed decisions.
  • Trustpilot Trustpilot
    MMI is rated as “Excellent” (4.9/5) by reviewers on Trustpilot, a global, online consumer review platform dedicated to openness and transparency. Since 2007, Trustpilot has received over 116 million customer reviews for nearly 500,000 different websites and businesses. See what others are saying about the work we do.
  • Department of Housing and Urban Development - Equal Housing Opportunity Department of Housing and Urban Development
    MMI is certified by the U.S. Department of Housing and Urban Development (HUD) to provide consumer housing counseling. The mission of HUD is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD provides support services directly and through approved, local agencies like MMI.
  • Council on Accreditation Council On Accreditation
    MMI is proudly accredited by the Council on Accreditation (COA), an international, independent, nonprofit, human service accrediting organization. COA’s thorough, peer-reviewed accreditation process is designed to ensure that organizations like MMI are providing the highest standard of service and support for clients and employees alike.
  • National Foundation for Credit Counseling National Foundation for Credit Counseling
    MMI is a longstanding member of the National Foundation for Credit Counseling® (NFCC®), the nation’s largest nonprofit financial counseling organization. Founded in 1951, the NFCC’s mission is to promote financially responsible behavior and help member organizations like MMI deliver the highest-quality financial education and counseling services.