Sometimes in life what happens is beyond our control. Things like an accident, a medical emergency or a large home or vehicle repair can set us back financially to the point where paying the mortgage is hard to do. Everyone knows that paying your mortgage on time is one of the most important things you can do not only for your credit but also to maintain the ability to refinance in the future.

If you find yourself in a situation where you are going to be late with your mortgage keep in mind there are no mortgage late payment assistance programs that will actually pay your mortgage for you, once you are late you are at the mercy of the mortgage holder! Legally your mortgage lender can start to foreclose on your property once you are 30 days late. The good news is the your mortgage holder does want to help you by offering a type mortgage late payment assistance that can defer payments or adjust the amount you pay, but you need to approach them the right way in order to let them evaluate your situation.

When you know for sure you are going to be behind on your mortgage you should call the lender immediately and let them know your situation and tell them you need mortgage late payment assistance. Many lenders are more then happy to help customers who may have gotten into a tight spot as long as they find out early. More then likely the lender will allow you to skip a certain amount of payments and extend the time frame of the loan to make up for it. They may also allow you to send in reduced payments with the agreement that you will make up the difference with in a set time period.

Although it is not a mortgage late payment assistance program that pays your loan for you the solutions your mortgage lender offers may mean the difference between losing your home or keeping it.

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