Can’t Make Mortgage Payments? Here’s What You Should Do:

Facing foreclosure can be a stressful and uncertain time for homeowners.

“What should I do next?”, “Am I going to lose my house?”, “I can’t continue to make my mortgage payments, what is going to happen?”

These are some scary questions that pop up when you aren’t able to make your mortgage payments.

Our Home Ownership Advisor Jami Carpenter who assists folks in Foreclosure Counseling answers some of these questions and more!

What should a homeowner do if they are not able to make their mortgage payments?

Homeowners should be proactive and contact their servicer as soon as they think they are going to be late. In most cases, your mortgage servicer will do their best to assist you and help you with a solution.

What happens if I have too many missed payments?

When you miss a payment the mortgage servicer may submit that missed payment to the credit bureaus which could lower your credit score. They may also send you documents about the missed payments which will include late fees for missing the payments, and if you are unable to cure the missed amounts, they may begin foreclosure proceedings.

When should I act with Foreclosure Counseling?

Action should be taken as soon as possible. Stay in contact with your servicer and be compliant with documentation.

How do missed mortgage payments affect credit?

Missed mortgage payments will show up as late payments which will decrease your scores. The more months you are behind the more severe the effects may be on your credit score.

How can HomeOwnership Center, Inc. help?

Call us if you are behind on your mortgage. We can offer Foreclosure Counseling to help communicate with your mortgage servicer, explore programs that may be able to help you to become current or connect you with appropriate people/organizations that can help advocate for your rights.

NOTE: We are also a participating organization in the West Virginia Homeowners Rescue Program, a program from the West Virginia Housing Development Fund utilizing federal rescue funds to assist homeowners who have been financially impacted by the COVID-19 pandemic. The program is designed to help folks who are delinquent on their mortgage, need assistance with paying utilities and/or paying property taxes.

In many cases, mortgage servicers do not want to foreclose on your home. They want to help you keep your house and will do everything in their power to make reasonable accommodations. Foreclosure is often overwhelming and scary, but there are people who want to help!

For more information, feel free to reach out to Jami directly by calling 304-636-9115 ext. 4 or email [email protected].


For more information on Foreclosure Counseling: click here