How To Talk To Your Bank About Missed Mortgage Payments Missing a mortgage payment can feel scary, but avoiding the bank usually makes the situation worse. If you are behind, or you think you may fall behind soon, the best first step is to contact your mortgage servicer as early as possible. The Consumer Financial…
Can I Skip A Mortgage Payment If I Have Auto Pay? Having auto pay does not mean you can safely skip a mortgage payment on your own. Auto pay is only a payment method. It does not change your mortgage agreement, pause your obligation, or give you permission to miss a payment. If you cannot…
Can You Refinance After Missed Mortgage Payments? Yes, you may be able to refinance after missed mortgage payments, but it is usually harder. Missed payments can lower your credit score, make lenders see you as a higher-risk borrower, and limit which refinance programs are available. In many cases, you may need to get current on…
Loan Modification Vs Selling Your House If you are behind on mortgage payments or worried you may fall behind soon, you may be deciding between two major options: asking your lender for a loan modification or selling your house. A loan modification may help you keep the home by changing the terms of your current…