Always make your mortgage payments on time. If you can’t, you need to call your lender immediately.
Even the most reliable borrowers sometimes fail to meet every payment on its due date. An unexpected crisis (long illness, job loss, etc.), deployment, Temporary Duty Assignment (TDY), or extended time in the field can negatively impact your ability to repay.
Instructions: Click each statement to reveal steps to take when you can’t pay your mortgage.
This act helps you devote full attention to duty and relieves stress on the family members of deployed servicemembers.
You may be protected against:
Contact your on-base legal advisor for information about SCRA.
The last resort generally for both the lender and the customer is foreclosure, which will have a major negative impact on you. As the result of a foreclosure, the lender becomes the owner of your home and you must move out. The lender might also pursue you through the courts for money you still owe on your mortgage. Calling your lender as soon as you have trouble paying your mortgage is one way to avoid this.
Note: Avoid companies that charge you a high fee upfront and claim they can help you avoid foreclosure. These could be scams!
For specific steps you can take to avoid foreclosure, click the Next button.