A hardship letter can help you avoid foreclosure and find mortgage relief If you’re struggling to make your mortgage payments, it may seem like you’re out of options and foreclosure is inevitable.

Mortgage lenders typically begin foreclosure three to six months after the first monthly payment that you miss. You will likely receive a letter or phone call from your mortgage company after your ...

When you miss a mortgage payment, your lender will often give you a 15-day grace period, during which you can pay without penalty. Most lenders won’t start the foreclosure process until you’ve missed ...

While it may not always be in a lender’s best interest to initiate a foreclosure against a borrower in default for a non-monetary term of the loan, it is nonetheless an option which remains available ...