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What if I just lost my job and cannot afford my mortgage payments?
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If you just got notice that you lost your job and cannot make your mortgage payment, you should notify your mortgage lender immediately to see if you can get a forbearance until you get a new job. Mortgage lenders are not property owners and do not want your property and want to avoid foreclosure at all possible means. Most mortgage lenders will work with homeowners who just got laid off or lost their jobs only if they are current on their mortgage loans. If you fall behind for several months and then call them after the fact, the mortgage lender will less likely work with you. If you lost your job or about to lose your job, you should notify your mortgage lender immediately to see if you can get a loan workout such as a forbearance.

Here is an article I wrote on forbearance
http://gustancho.com/forbearance/

 
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