Mortgage Default Counseling FAQ

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Frequently Asked Questions

What happens if I miss my mortgage loan payments?

If you miss mortgage loan payments, foreclosure on your property may occur. Timing is critical in these matters, so call ClearPoint for assistance as soon as possible.

What steps do I need to take if I miss a payment?

  • Immediately contact your lender and explain your situation. Be prepared to give them information about your income and expenses.
  • Do not make promises to make payments that you may not be able to keep.
  • Make an appointment to see one of our certified housing counselors to discuss your situation and explore the various options available to you.

What options may be available to me?

  • Refinancing
  • Special forbearance or a repayment plan
  • Mortgage modification
  • Partial claim
  • Pre-foreclosure sale
  • Deed-in-lieu

When you meet with one of our certified housing counselors, each of these options for which you are eligible will be fully explained. (Depending on your loan and circumstances, some of these options may not be available to you.)

Call 1.877.422.9041 to make an appointment with one of our certified housing counselors to research these various options and to better understand the timeline for foreclosure.

Beware of scams.

  • Don’t sign any papers you don’t fully understand.
  • Beware if someone suggests that you sign your house over to him or her so that they can catch up the payments and continue paying the mortgage while you pay them rent. They will usually tell you that when your financial situation improves, they will resell the house to you. This is a common scam. You may never get your home back if the delinquent payments are not made or the promise to sell the house back to you is not kept.
  • If something offered to you seems too good to be true, it usually is.
  • Make an appointment with one of our certified housing counselors, or with your attorney, before you sign any papers.