Behind on Your Mortgage? Your Options, in Plain Language
Falling behind on a mortgage is stressful, and many homeowners don’t know they still have choices. This page explains the common options in plain language so you can talk to the right people quickly. It is general information, not legal or financial advice.
Step 1: Talk to free, neutral help first
- A HUD-approved housing counselor. Counseling is free. Find one at hud.gov (search “housing counselor”) or call (800) 569-4287.
- Your loan servicer. Call the number on your statement and ask what options they offer. Get every answer in writing.
- An attorney for legal questions about notices, deadlines, or your rights. Be careful with anyone who asks for money upfront to “stop” a foreclosure or asks you to sign over your deed. California law limits what foreclosure consultants can do and charge.
Step 2: Know the common options
- Reinstatement. Paying the past-due amount, fees, and costs to bring the loan current.
- Repayment plan or forbearance. An agreement with your servicer to catch up over time or pause payments for a while.
- Loan modification. A change to the loan’s terms, through your servicer. Free help is available from housing counselors.
- Refinance. Possible for some owners with enough equity and income.
- Selling the home. If you have equity, a sale can pay off the loan and let you keep what’s left, on your own timeline before any sale date.
- Short sale or deed in lieu. Options when the home is worth less than what’s owed; they need lender approval. Which option fits depends on your loan, your equity, and your goals. A counselor or attorney can help you compare them.
When selling with a broker makes sense
If you have equity and decide that selling is the right path, listing with a licensed broker exposes the home to every buyer on the MLS so you can compare real offers, including cash offers. You stay the owner and make every decision. We can tell you what your home would likely sell for, so you know your numbers before you talk to your servicer or counselor.
Get a free, no-obligation home value: miamarrealty.com/sell Call (949) 822-8702 (8am to 7pm PT, 7 days)
FAQ
Will you stop my foreclosure? No. We’re a real estate broker, not a foreclosure consultant or lender. For options with your loan, talk to your servicer and a free HUD-approved counselor. Do you charge anything upfront? No. We never charge upfront fees. If you list with us, the commission is set in a written listing agreement and paid only from a completed sale. Can I still sell if I received a notice? Often yes, but timing matters. Ask an attorney about the dates on your notice. Will you buy my house? No. We help you sell on the open market; we don’t buy homes from owners in foreclosure.
Jay Romero, Broker | Miamar Realty | DRE 01343079 | Call (949) 822-8702 Equal Housing Opportunity. General information only, not legal, tax, or financial advice. Nothing here promises a result, price, or timeline.
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