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It is very crucial for you to prove to your lender that you are now back on your feet and will be able to stay consistent with your mortgage payments as well as begin to pay back the unpaid amount. Your lender may request that you repay the missed payments over the timeframe of six to twelve months. If you have found yourself to be in this particular circumstance, please know that you do have options at hand.

There are several homeowners who have failed to make several mortgage payments and their lenders have come to forgive them and were still able to save their home. Of course, your lender will need to be convinced that you can still keep your home, and with this, you will need to provide a few things. You will need to let your lender know that whatever your temporary dilemma may have been was out of your control at that moment. A few examples could be injury, sickness, temporary disability, etc.

Hardships are a common problem that generally affects a homeowner’s judgment on what to do with their home, whether they are far behind on payments, or foresee missed mortgage payments coming up. Alternatives like short sale, loan modification, and forbearance are all ways to refrain from foreclosure.