A bank notice or missed payments doesn't mean you'll lose your home. The earlier you act, the more options are available to you. Read through each one below.
Important: Many of these options can be pursued directly with your lender at no cost. We provide guidance and advocacy — not legal advice. If your situation is complex, we can work with your bank on your behalf through our Loss Mitigation Service.
1
Forbearance
"Pause or reduce my payments temporarily."
Your lender agrees to temporarily pause or reduce your mortgage payments for a set period — usually 3 to 12 months. This gives you breathing room to recover financially. Missed payments are added to the end of your loan or paid back through a repayment plan.
What it means for you
Payments paused · No immediate foreclosure · Time to stabilize your income · Must contact lender and qualify
2
Loan Modification
"Change my loan terms to make payments affordable."
Your lender permanently modifies your loan — lowering your interest rate, extending your term, or adding missed payments to your balance. This changes your monthly payment going forward to something you can actually afford long-term.
What it means for you
Lower permanent payment · Keep your home · Requires lender approval · Can take 30–90 days to process
3
Reinstatement
"Pay everything owed at once and get current."
You pay the full amount of all missed payments, late fees, and penalties in one lump sum. This immediately brings your loan current and stops the foreclosure process. Simple and clean — but requires access to the funds.
What it means for you
Immediate resolution · Loan continues as normal · Requires lump sum payment of all arrears
4
Repayment Plan
"Pay back what I owe over time while keeping up with current payments."
Your lender lets you spread your missed payments over a set period — typically 6 to 12 months — added on top of your normal payment. You stay in the home and slowly catch up without needing a lump sum.
What it means for you
No lump sum needed · Structured catch-up plan · Temporary higher payment until caught up
— Need someone to handle lender negotiations for you? —
★ Moors United Service
Loss Mitigation Service
We contact your lender directly, advocate on your behalf, and negotiate the best possible outcome — whether that's forbearance, a loan modification, or a postponement of foreclosure. You don't have to fight the bank alone.
Lender communicationForeclosure postponementLoan modification advocacyForbearance negotiationDocumentation assistanceOngoing case management
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