If I can't pay my mortgage loan, what are my options?
Answer: If you can't pay your mortgage, first contact a U.S. Department of Housing and Urban Development -approved housing counselor. They may be able to help you by discussing your options.
Some options might be to:
- Get a loan modification
- Work out a repayment plan
- Get forbearance
- Short-sell your home
- Rent back your home
- Give your home back to your lender through a “deed-in-lieu of foreclosure”
A HUD-approved housing counselor can help you figure out which available options are best for you. Foreclosure prevention counseling and counseling services for homeless persons are available free of charge through HUD's Housing Counseling Program.
You can use the CFPB's "Find a Counselor" tool to get a list of U.S. Department of Housing and Urban Development (HUD)-approved counseling agencies in your area. Call the CFPB at (855) 411-CFPB (2372) to be connected to a HUD-approved housing counselor today.
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.
Use our checklist for more information on how to avoid foreclosure.
Ask CFPB provides general consumer information. It is not legal advice or regulatory guidance. The CFPB updates this information periodically.
Ask CFPB includes links or references to third-party resources or content. The CFPB does not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.