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What Do I Do If I Can’t Make My Mortgage Payment?

If you can’t pay your mortgage, there are some options available to help you. You aren’t the first to have financial difficulty, and you aren’t alone.

While in some cases selling your home is indeed the best course of action, The Burke Team would like to help you avoid selling if you don’t want to, so you can remain in the home you love so much. And while we are not licensed mortgage professionals, we know you have options.

Here are a few things to do if you can’t make your next mortgage payment.

There may be options available BESIDES SELLING if you can’t pay your mortgage.

Contact Your Lender

Don’t wait until the lender contacts you. Be proactive and let them know about your situation and that you’re looking for what remedies they can provide and recommend to assist you.

Ask About Mortgage Assistance

Again: don’t wait for your lender to contact you. Ask about Mortgage Assistance programs. You’ll need to apply; there is a process. See what they offer.

Ask About Mortgage Forbearance

Mortgage Forbearance is an option to temporarily lower or even pause your payments due to certain circumstances, like loss of employment, serious illness, and other financial difficulties. You’ll need to document your need for forbearance, so don’t wait if you want to take advantage of this option. You may be able to Mortgage forbearance terms can differ so make sure you fully understand what is being offered.

Ask About Loan Modification

A Loan Modification refers to changes made permanently to a loan to avoid foreclosure. The payments are sometimes lowered and the length of the loan is extended, maybe the rate is adjusted, and government programs can be in play. There are a lot of different ways a Loan Modification can be done and what the end result looks like. You can ask your lender what is available to you.


Refinancing in this present market is probably not going to be as helpful to most homeowners due to a recent rise in rates. And, if you’re having financial difficulties, it may be difficult to refinance altogether. But in some cases it can still be an option, and you’ll only know if this helps you for sure by speaking with a trusted lender.

The “Swallow Your Pride” Option

It is one thing to talk finances with a corporate entity, but another altogether to discuss with family or friends. But if you’re not sure you can keep your home, you’re better off swallowing your pride and asking for short term help where you can get it. Discuss your situation with family, including parents, siblings, etc. Even if they can’t provide financial help in the short term, you should gain some emotional (and even some practical) support as you work hard to solve your financial problems. Also, contact every local charity (churches, Salvation Army, Goodwill, etc) in the area and ask them if they will help, and if not, who they suggest for you to contact.

Sell Your Home When It Is The Best Option

There may not be a perfect option when you’re in financial distress, and you may find yourself in the position of finding the option that is simply the best for you. If this means selling your home is the best option, then The Burke Team is ready to help you sell your home. If you aren’t in our service area, we would like to refer your business to someone local to you, based on what your needs are. (We may or may not seek a referral fee from the agent we refer to, but not from you in this scenario.)


Financial difficulties are a reality for a growing number of people. These are just some of the options available to you. We would love to see you stay in your home, but we are here to help sell if that’s the best option overall. Hang in there!

Written by Daniel Burke

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