Sell my house when behind on mortgage payments
If you have been looking up how to "sell my house when behind on mortgage payments", the key difference is being behind versus being in foreclosure. Missing payments starts a clock. It does not take the house. You still own it and still decide what happens to it. Any equity above the payoff is still yours.
Why waiting narrows your options
Late fees and accrued interest raise the payoff figure every month, which shrinks what you walk away with. Once a notice of default is recorded, it becomes public record and the calls begin. As time runs short, a normal sale gets harder to pull off, since it needs 30 to 60 days after you find a buyer. The earlier you act, the more options stay open.
What to know
Get the exact payoff figure in writing
Not the balance on your statement. Ask your servicer for a payoff quote. It includes accrued interest, late fees, and any escrow they advanced. That is the number a sale has to cover. People are often surprised by the gap between the two.
Ask about forbearance and loan modification first
If the hardship is temporary, forbearance or a loan modification may let you keep the house. Servicers have loss-mitigation departments for exactly this. Asking costs you nothing, and you should ask before deciding to sell.
Equity is more common than people assume
Home values in most markets have risen a lot in recent years. Plenty of people who are several payments behind still have real equity. Find out what the house is actually worth before you assume there is nothing to protect.
Beware anyone asking for money up front
Real buyers do not charge you fees to look at your house. Real attorneys do not tell you to stop talking to your lender. If someone asks you to sign over the deed while they promise to make the payments, walk away. Then call a housing counselor.
HUD-approved housing counseling is free
The Department of Housing and Urban Development sponsors free counseling agencies. Their whole job is helping homeowners in your position understand their options. They do not sell anything. Give them a call before you decide anything.
This is general information based on what we see in this situation regularly. It is not legal, tax, or financial advice, and the rules differ meaningfully from state to state. Talk to an attorney or a CPA about your specific circumstances.
How we handle this specifically
- Once you authorize it in writing, we work directly with your servicer's payoff department.
- No commissions, and we cover standard closing costs, so more of your equity reaches you.
- We will tell you plainly if reinstating or modifying the loan leaves you better off than selling.
- No fees, ever, to ask us or to walk away.
How selling to us actually works
Tell us about the house, and your number
The address, a rough idea of its condition, and what you need to get for it. No photos, appraisal, or repair estimates needed, and nothing has to be cleaned up first.
About 2 minutes
We check whether your number works
We look up recent sales of similar homes nearby and see the house ourselves. Then we check the math against your number. It takes one walkthrough, at a time that suits you, and we pay for any inspection.
Usually within 24 to 48 hours
You get a straight answer, not a pitch
Either yes, we can do your number, or no, we cannot, and here is exactly where the gap is. You get it in writing, with no pressure and no deadline games. If it works, a title company handles closing and you pick the date.
Close in about 1 to 3 weeks, or later if you prefer
Common questions
- How far behind is too far behind to sell?
- You can sell right up until a foreclosure sale is final. Sooner is better because the payoff figure grows. But being several months behind does not close the door.
- Will I get any money out of it?
- If the house is worth more than the payoff, yes. The difference is yours at closing. We can help you see where you stand before you commit to anything.
- Should I keep paying while I sell?
- Talk to your servicer and, ideally, a HUD-approved housing counselor. It depends on your payoff, your timeline, and whether a modification is realistic. We are not in a position to advise you on that.
- Does a cash sale hurt my credit?
- A sale that pays off the loan closes the account. Late payments already reported stay on your report, but you avoid a foreclosure entry. Your servicer can confirm the details.
Related situations
Facing foreclosure
There is usually more time and more equity left than lenders make it feel like.
Back taxes or liens
Liens get paid from the proceeds at closing. They do not block a sale.
Divorce or separation
One clear number and a firm date, so both parties can move on.
We handle this in every market we buy in
Talk to us before you decide anything
You do not need a number ready, or photos, or a plan. Want to know your real options, even the ones that do not involve us? Call and ask.
Sabrina usually picks up. (615) 576-8827