Performance Property Real Estate Question

What Homeowners Should Do When They Can’t Pay Their Mortgage

Q: My sister and her husband are in a bind. They fell behind on their mortgage payments when my sister stopped working last year to stay home with their young kids and her husband lost his job around the same time. What should they do? Brenda, Paramus, NJ A: Hi Brenda, the first thing I think your sister and her husband should do is reach out to their lender or mortgage servicing company and find out what options they may offer to assist them. Your sister’s lender may offer forbearance or loan modification assistance that may help them and it’s most beneficial to homeowners to get that assistance as soon as possible when they fall behind on mortgage payments. The […]

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