Missed Mortgage Payments: Your Options If You Default

Missed Mortgage Payments Your Options When Default Can't Be Avoided

If you have too many missed mortgage payments, your mortgage company will no longer accept payments from you. After too many missed mortgage payments (typically three), your lender will instead insist upon payment in full of the entire amount past due. The amount of missed mortgage payments, plus penalties and interest, is called the “arrearage.” […]