Your situation
I Can't Afford My Utah House Anymore
Falling behind is stressful, and the instinct is often to wait and hope. Acting while you are still current, or only slightly behind, preserves far more options than waiting for a notice of default.
What should I do if I can't afford my mortgage anymore?
Contact your loan servicer early to ask about forbearance, modification, or repayment options, and at the same time find out what your home would net in a sale. If you have equity, selling before missed payments accumulate protects your credit and your proceeds. If you owe more than the home is worth, a short sale may be an option to discuss with your servicer.
Sell while you still have leverage
A seller who is current has time to list properly or to negotiate a direct sale calmly. A seller with a sale date has neither. If selling is the right call, sooner nearly always nets more.
Non-sale options to ask about
Loan modification, forbearance, refinancing, or renting the property may be workable depending on your situation. Andrew will say so if one of these looks better than selling, and can point you to HUD-approved housing counselors who help for free.
Which option fits
A direct sale tends to fit when
- You are already behind and time is short
- The home needs work
- You need a certain closing date
Listing tends to fit when
- You are current and have 60 or more days
- There is meaningful equity
- The home shows well
Frequently asked questions
This page is educational and is not legal, tax, or financial advice. Situations like this one often benefit from an attorney, CPA, or HUD-approved housing counselor in addition to a real estate professional. Andrew will tell you when that is the better first call.
Is there any reason you shouldn't know your options before deciding?
Tell us about the property. We'll evaluate your situation and lay out your options, including the one we don't sell.