What Happens If You Can’t Afford Your Mortgage in Missouri? Your Options Explained

Introduction: Struggling with Your Mortgage? You’re Not Alone

Life happens—unexpected expenses, job loss, or rising costs can make it hard to keep up with your mortgage payments. If you’re in Missouri and struggling to pay your mortgage, you have options to avoid foreclosure and protect your financial future.

This guide will explain what happens if you fall behind on payments, your legal rights in Missouri, and solutions to resolve your mortgage debt.

1. What Happens If You Miss a Mortgage Payment?

Missed payments can quickly lead to serious financial consequences. Here’s the general timeline:

📌 30 Days Late: You may get a late fee and a warning from your lender. Your credit score may also take a hit. 📌 60-90 Days Late: You’ll receive a Notice of Default (NOD) from your lender. 📌 90+ Days Late: The lender may start the pre-foreclosure process and schedule a foreclosure auction.

Missouri is a non-judicial foreclosure state, meaning the lender does not need a court order to foreclose.

2. Your Options If You Can’t Afford Your Mortgage

If you’re struggling to make payments, consider these solutions:

1. Contact Your Lender & Request a Loan Modification

If your hardship is temporary, a loan modification or forbearance plan may help you stay in your home.

Loan Modification: Adjusts your mortgage terms to lower monthly payments.
Forbearance: Temporarily pauses payments during financial hardship.

2. Refinance to Lower Your Monthly Payments

If you still have equity in your home, refinancing can reduce your mortgage payments.

Cash-Out Refinance: Use home equity to pay off debts.
Rate & Term Refinance: Lowers interest rates and adjusts loan length.

3. Sell Your Home Before Foreclosure Starts

If your financial situation won’t improve soon, selling may be the best option.

✅ Sell to an Investor for Cash (Fastest Option)

Close in as little as 7-14 days.
No need for repairs, showings, or realtor commissions.

✅ List Your Home on the Market

If your home has good equity, selling with a realtor may be a viable option.

4. Consider a Short Sale If You Owe More Than the Home’s Value

If your home is worth less than what you owe, you may qualify for a short sale.

The lender agrees to accept less than the mortgage balance.
Avoids foreclosure & reduces credit damage.

📌 If this is the case for you, fill out this form and we will can go over creative options and traditional options and find the solution that best suites you.

5. File for Bankruptcy as a Last Resort

Filing for Chapter 13 bankruptcy can temporarily stop foreclosure proceedings and allow you to reorganize your debt. However, this should be a last resort due to the long-term credit impact.

3. How to Take Action Now & Avoid Foreclosure

If you’re struggling to pay your mortgage, don’t wait until it’s too late. Here’s what you can do now:

✅ Call Your Lender ASAP – Ask about modification or forbearance options. ✅ Know Your Legal Rights – Missouri’s foreclosure process moves fast. ✅ Explore Selling Options – Get a cash offer before foreclosure starts.

Final Thoughts: Don’t Let Your Mortgage Take Over Your Life

If you can’t afford your mortgage in Missouri, there are solutions to help you avoid foreclosure, protect your credit, and move forward financially.

💡 “Not sure what to do next? Download our Complimentary Homeowner Survival Kit and explore your best options for avoiding foreclosure, negotiating with your lender, or selling your home fast.”

📌 Learn More: → Save Your Home Now!

Or fill out this super easy form to gain instant access to essential tools.

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