Missed a Mortgage Payment? Here’s What to Do Next (Before It Snowballs)

by Suzanne Hurge-Moore

Life happens. Maybe it was an unexpected medical bill, a job change, or just a tough month financially—but now you’ve missed a mortgage payment, and the panic is starting to set in.

Take a deep breath. One missed payment doesn’t mean you’re going to lose your home. But it does mean it’s time to take action—sooner rather than later.

Here’s what you need to know (and do) if you’ve fallen behind.

Step 1: Understand the Timeline

Most lenders offer a 15-day grace period after your due date. If you’re still within that window, you may be able to make your payment without a late fee.

After 30 days, your lender will likely report the missed payment to the credit bureaus, which can impact your credit score. At 90 days, you’re at serious risk of foreclosure proceedings beginning.

So the earlier you act, the more options you’ll have.

Step 2: Call Your Lender (Yes, Really)

It might feel intimidating, but your lender wants to work with you. Foreclosure is expensive for them, too.

Ask about:

Forbearance options
Loan modification programs
Repayment plans

Be honest about your situation. Many lenders have hardship programs, especially if your financial setback is temporary.

Step 3: Open Every Letter You Get

It’s tempting to ignore the mail when you’re behind—but don’t. Those letters contain important information about your rights, deadlines, and options.

Some notices may even include loss mitigation options or legal timelines you need to be aware of.

Step 4: Know Your Equity

Here’s something many homeowners don’t realize: you might still have equity in your home, even if you’re behind on payments.

That means you could:

Sell your home and walk away with cash
Avoid foreclosure and protect your credit
Buy yourself time to regroup financially

Even if you owe more than your home is worth, a short sale might be an option—and it’s far less damaging than a foreclosure.

Step 5: Talk to a Local Real Estate Professional

If you’re in Prince George’s County or nearby, I specialize in helping homeowners navigate tough situations like this. Whether you want to explore selling, understand your equity, or just talk through your options—I’m here to help, no pressure.

Final Thought

Missing a mortgage payment doesn’t make you a failure. It makes you human. The key is to act quickly, stay informed, and surround yourself with people who can guide you through it.

You’ve got options. Let’s find the one that works best for you. Contact me TODAY!