What if you cant make the payment on the mortage?

Question

What if you cant make the payment on the mortage?

Answer 1

Is there more to this question?

Kinda vague... no?

Answer 2

You are making poor choices and exhibiting poor financial management.

Pay as much of the payment as you can.  Don't let a month go by without paying your mortgage.  You dig yourself a deep hole when you do that (skip).  Paying for your shelter is the first place your money should go.  STOP all other spending, paying only for what you NEED, forget those WANTS.  No bling, no eating out, no hair and nails.  Check out the local food pantry if you're really short this month.

Get some expert financial advice.  TALK to your lender.

Answer 3

Call your mortgage company and speak to them, maybe they can let you make only the interest payment.  Do not ignore them.

Answer 4

you will lose your house and have to move back in with your parents.....

if no family around, it may be under a bridge nearby......

Answer 5

There are lots of things to consider.  Have you been struggling to make the payments forever and it has overwhelmed you.  Do you love the house and want to keep it so much that you are willing to take in 3 roommates- you could pay the mortgage with their rent money.  Did you just buy the house and already realize that it was a mistake to buy it.  Will things change in 2 months so you really only need to get thru a short time of "no money".   Each one of those things has a different solution - or maybe no solution at all.

But the short answer is that you agreed to pay the mortgage or the bank would "take" the house.  You aren't paying.  The bank will take it in 90 days.

Answer 6

Eventually the mortgage company will probably try to foreclose on you and you will lose your house.

Answer 7

I am not in mortgage but I work for a bank. There are many facets to this question. If you are one payment behind, call immediately and see if you can make an arrangement or get a deferral of that payment. That is where they could move that payment to the end of the term and you basically get a one time grace for this payment. If you are several payments behind, you may be in more trouble. I do agree with one answer in that you best not ignore them or foreclosure could get you in hot water. At this point, I think a mortgage company is likely to be somewhat understanding instead of foreclosing. An empty house is not helping them or you.