If you find yourself in circumstances that make paying your mortgage impossible, don’t let the circumstances control you as there are options to explore including:
- Call your lender. Speak with the loss mitigation department about a loan modification or forbearance or something.
- Consider a short sale. If you are in a situation where you will never be able to afford your home, a short sale may be something to consider. A short sale is a situation where the selling price of a property will be less than the mortgage owed and will require lender approval of a sales contract.
- Florida Hardest Hit Program. The Florida Hardest Hit program will help qualified homeowners (must meet all eligibility requirements) receive up to six months of monthly mortgage payments and/or funds to pay past due mortgage payments to bring the mortgage current. The program began April 18, 2011 and is on a first come basis as available funds are limited.