Behind on Your Mortgage Payments?

Falling behind happens to a lot of people

A job change, a medical bill, a divorce, a rate adjustment, or a big repair can turn a manageable payment into one you can’t keep up with. Missing one or two payments is stressful, but it is not the end of the road. At this stage you usually have more choices than you will later, and the decisions you make in the next few weeks matter.

What typically happens as payments are missed

• Days 1–30: a late fee is charged once the grace period ends, and the servicer starts calling and sending letters.
• Around 30 days: the late payment may be reported to the credit bureaus.
• Around 36–45 days: servicers are generally required to try to contact you about options to avoid foreclosure.
• After about 120 days: federal servicing rules generally allow the foreclosure process to formally begin, with additional state-specific steps after that.

Exact timelines depend on your loan type, your servicer, and your state, but the pattern is the same: fees and interest grow, and the window for low-cost solutions closes.

Options to consider first

• Call your servicer early. Ask about repayment plans, forbearance, or a loan modification.
• Talk to a HUD-approved housing counselor. Counseling is free and they know the programs available in your state.
• Review your budget. Sometimes a short-term fix such as a payment plan is enough if the hardship is temporary.
• Consider selling. If the payment will not be affordable long term, selling while you still have equity protects that money and your credit.

How selling to us can help

If you decide to sell, a cash sale removes the biggest risks of a traditional listing when you’re short on time: no repairs, no months of showings, and no buyer financing that can fall apart at the last minute. We give you a written offer, usually within 24 hours. At closing, the title company or closing attorney requests a payoff from your lender that includes the missed payments and fees, pays the loan off in full, and sends any remaining proceeds to you.

Because the loan is paid off, the delinquency stops growing. Your credit will still show the late payments, but you avoid a foreclosure on your record.

A quick way to see where you stand

1. Write down your estimated payoff: the balance on your latest statement plus missed payments and fees.
2. Estimate what the house is worth as-is today, not after repairs.
3. Subtract any second mortgage, home equity line, or liens.

If the as-is value is comfortably above what you owe, selling can leave you with cash to move forward. If it is close or below, talk with your servicer or a housing counselor about a short sale or other programs. We will be honest about which side of that line our offer falls on.

Moving on your timeline

We can close on your timeline, often in as little as a couple of weeks, or schedule closing for a later date if you need time to find your next place. You can leave behind anything you don’t want to take.

Avoid anyone who asks for money upfront

Legitimate buyers do not charge homeowners fees to make an offer or “stop” a foreclosure. Read every document, ask questions, and feel free to have an attorney review our contract.

Questions to ask your servicer

• How much do I need to pay to bring the loan current today, including fees?
• What repayment, forbearance, or modification options do I qualify for, and what documents do you need?
• Has a foreclosure referral been made, and is there a sale date?
• Will you pause foreclosure activity while my application or sale is pending?

Write down the name of everyone you talk to, the date, and what they said. Follow up important requests in writing.

What a fast sale looks like

Once you share the address and your estimated balance, we send a written cash offer, usually within a day. If you accept, the title company or closing attorney opens the file and orders the payoff from your servicer. When title is clear, closing can often happen in as little as a couple of weeks. If you need more time to find a new place, you can choose a later date. Either way, the loan is paid off at closing and any remaining equity goes to you.

If you have more than one problem

Being behind on the mortgage often comes with other pressures: credit card debt, medical bills, back property taxes, or a house that needs repairs you can’t afford. A sale can address several of these at once. Liens and back taxes are paid at closing, the house goes as-is, and you can leave behind what you don’t want. If you are considering bankruptcy or have a judgment against you, talk to an attorney before you sign anything so the sale fits your overall plan.

Related seller guides

Local markets we buy in

We buy houses in all 50 states. These local pages include current market data and details about foreclosure, probate and property taxes in each area:

Other situations we help with