What is the best thing to do when you are behind on mortgage payments and you can't re-finance?

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For the sake of time I suggest speaking to the lender directly to see if immediate arrangements can be made. If purchased as an FHA or VA loan, talk to them too.

Second, put the house for sale immediately (the same day you speak to the lender) and price the house below market value, but just above Realtor commissions and loan payoff.

What is the best thing to do when you are behind on mortgage payments and you can't re-finance?

Did you already speak w/ a lender? If your bankruptcy was more than 2 years ago it shouldn't affect your application so long as you show that from that point on you've been taking care of your bills. I suggest you call your lender or one you feel comfortable with and ask about their different programs. Hopefully you will be able to refi. If not, you may want to consider getting a Realtor quick (if you're in CA call/email me) and listing your property before things get worse. If he/she suggests a short sale, where the home would sell less than the amount you borrowed to buy it, you would need to have your Realtor contact your lender w/ your permission, and obtain the needed paperwork for a short sale. It's almost like doing a loan app, plus you'll need to write a letter to them explaining why you can no longer afford the payments. A short sale will save you from foreclosure w/out hurting your credit like a foreclosure would. Good luck

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What is the best thing to do when you are behind on mortgage payments and you can&#039;t re-finance?

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What is the best thing to do when you are behind on mortgage payments and you can't re-finance?