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I can't make my mortgage loan payments or sell my home. What should I do?

If you can’t make your mortgage payment, in some cases you can give your home back to your mortgage lender through a process called “deed-in-lieu of foreclosure.” 

You may also qualify for help with relocation expenses, either under the federal government’s Home Affordable Foreclosure Alternatives Program (HAFA)  or other programs sometimes called “cash-for-keys.” The deadline to apply for assistance under HAFA is December 30, 2016.

If you live in a state in which you are responsible for any deficiency between the value of your property and the amount you still owe on your mortgage loan, you will want to ask your lender to waive the deficiency. If the lender waives the deficiency, get the waiver in writing and keep it. To learn more, call the CFPB at 1-855-411-CFPB (2372) to be connected to a U.S. Department of Housing and Urban Development (HUD)-approved housing counselor today.

Tip: Use our checklist for more information on how to avoid foreclosure.

If you are facing imminent foreclosure or have been served with legal papers, you may also need to consult an attorney. If you need help finding an attorney, you can view this list of legal aid services in your state, or you can find lawyer referrals in your county and state by visiting the American Bar Association website .