What happens if you can't pay your mortgage?

Answer If you cannot pay your mortgage contact your lender. There may be some programs available to make your payment affordable. When nothing can be worked out the lender will foreclose or repossess your... Read More »

Top Q&A For: What happens if you can't pay your mortgage

What happens to your mortgage if your HOA forecloses on your condo?

The answer depends on how much you owe, how much the unit can be sold for, and where the lender's claim on the property falls in the priority status for distributing the funds from the sale. Some a... Read More »

What happens if your lock expires on your mortgage?

If a borrower's interest rate lock expires before closing, he is no longer eligible for that interest rate. However, if desired, the borrower can extend his lock prior to expiration for a fee.Signi... Read More »

What happens to your second mortgage in chapter 13?

Chapter 13 bankruptcy appeals to many people facing debt because it allows you to keep your home. Mortgage payments are still paid on the first mortgage to avoid foreclosure. However, depending on ... Read More »

What Happens If You Sell Your Home for Less Than You Owe on the Mortgage?

Selling a home for less than is owed on the mortgage is called a short sale. The owner must get approval to proceed with a short sale from the mortgage company. This process normally involves provi... Read More »