What to Do If You're Behind on Mortgage Payments

Falling behind on mortgage payments can be overwhelming—but you do have options. Whether you're one month behind or facing foreclosure, taking quick action can help you protect your home and your equity.

Step 1: Understand the Timeline

Most lenders allow a 15-day grace period before charging late fees. After 30 days, your payment is reported as late to credit bureaus. After 90 days, foreclosure proceedings may begin. Act fast.

Step 2: Communicate With Your Lender

Call your lender. Ask about forbearance, loan modification, or repayment plans. Lenders often prefer to work with you than to start foreclosure.

Step 3: Explore Government Relief Programs

Look into options like FHA Partial Claims or VA loan assistance. You may qualify for state or federal relief programs designed for hardship cases.

Step 4: Consider Selling Before Foreclosure

If catching up isn’t realistic, selling your home before foreclosure may protect your credit and equity. In Dallas and the surrounding areas, investors and cash buyers can help you close quickly—sometimes in under 7 days.

Step 5: Work With a Real Estate Investor

A reputable local investor can buy your home as-is, pay cash, and close fast. This is ideal if you're behind on payments, owe back taxes, or the house needs repairs.

Final Tip:

Don’t wait until you get a foreclosure notice. Even if you’re just one or two months behind, explore your options now while you still have negotiating power.