Mortgage Payment Help & Foreclosure Alternatives
Having Trouble Making Your Mortgage Payments?
You're not alone, and we're here to help. If you're experiencing financial hardship, contact us immediately to discuss your options. The sooner you reach out, the more alternatives we may be able to offer.
Call us at: (866) 380-6060
Foreclosure Prevention Options
You may have different options depending on whether your hardship is temporary or expected to last longer. Some options allow you to stay in your home, while others may require leaving your home to avoid foreclosure.
Options That Let You Keep Your Home
Forbearance Plan
- Temporarily suspends or reduces your monthly mortgage payment for a specific time period
- Best for temporary hardships like job loss or medical emergencies
- Payments are not forgiven - they become due at the end of the forbearance period
- May help you avoid foreclosure and protect your credit
Repayment Plan
- Spreads missed payments over time in manageable amounts
- Used when you can now afford regular payments plus extra to catch up
- Payments during repayment period will be higher than your regular payment
- Less damaging to credit than foreclosure
Loan Modification
- Changes loan terms to make payments more manageable
- For significant, longer-term financial hardships
- May reduce your monthly payment amount
- Must receive documents more than 37 days before any scheduled foreclosure sale
Options That Require Leaving Your Home
Short Sale
- Sell your home for less than you owe on the mortgage
- May release you from remaining mortgage balance
- You can stay until closing, giving time to find new housing
- No out-of-pocket fees at closing
- Cannot sell to friends or family members
Deed in Lieu of Foreclosure
- Voluntarily transfer home ownership to the lender
- May release you from remaining mortgage balance
- No fees to you
- May help avoid foreclosure even if process has started
Important Warnings
Beware of Foreclosure Rescue Scams
Scam artists target distressed homeowners with false promises. HUD-approved counseling agencies provide legitimate help for FREE.
Red flags - avoid companies that:
- Ask for upfront fees
- Guarantee they can stop foreclosure
- Tell you to stop paying your lender and pay them instead
- Pressure you to sign documents you don't understand
- Claim to offer "government-approved" modifications
- Ask for personal financial information over the phone
To report scams: Visit consumerfinance.gov or call (888) 995-HOPE (4673)
Preguntas frecuentes
Is there a fee for foreclosure prevention assistance?
No. There should never be a fee for assistance from Advisors Mortgage or qualified housing counseling agencies.
What happens in foreclosure?
- You lose your home through legal process
- You must move or face eviction
- May take up to 7 years before eligible for another Fannie Mae/Freddie Mac mortgage
- Negative impact on credit for all borrowers
Will my home be sold if I accept assistance?
No. Your property will not be sold at foreclosure if you accept a prevention option and comply with its requirements.
Take Action Today
Contact us as soon as possible if you're having payment difficulties. We're here to help you explore all available options and work toward a solution that fits your situation.
Call: (866) 380-6060
