Behind on Mortgage Payments in Lubbock? Start With These Options

Contact the mortgage servicer promptly

Use the telephone number printed on the mortgage statement or an independently verified servicer website. Ask for the department handling mortgage assistance or loss mitigation. Write down the representative’s name, date, time, reference number, and the information provided.

Request a written explanation of available options and a document checklist. Depending on the loan and circumstances, possible programs may include repayment, reinstatement, temporary forbearance, payment deferral, modification, refinance, short sale, or deed in lieu. Availability is controlled by the loan, investor, insurer, servicer, and applicable rules—not by this website.

• Ask for the total amount currently past due.
• Ask for a written reinstatement quote and expiration date.
• Ask for a payoff statement when evaluating a sale.
• Confirm whether a loss-mitigation application is complete.
• Keep copies of every document and delivery confirmation.

Understand the federal timing rule without assuming too much

For many residential mortgage loans, federal servicing rules generally prohibit the first foreclosure notice or filing until the loan is more than 120 days delinquent. Exceptions, loan-specific rules, and state procedures can apply.

The 120-day concept should not be treated as a guaranteed grace period or calculated from memory. A borrower may have earlier contractual deadlines, credit consequences, late charges, property-insurance concerns, tax obligations, or loss-mitigation document deadlines.

Review the loan statement and notices, then verify the status directly with the servicer. A HUD-approved housing counselor or qualified attorney can help evaluate the specific facts.

Compare options for keeping the property

Keeping the home may be possible when income has recovered, the arrears can be resolved, the servicer approves an available program, or replacement financing is realistic. Be careful with anyone charging large advance fees or promising guaranteed approval.

Prepare an accurate monthly budget and gather income, bank, tax, insurance, hardship, occupancy, and household documents requested by the servicer or counselor. Incomplete submissions can create delay.

Bankruptcy may affect collection or foreclosure activity, but it has serious legal and financial consequences. Only a qualified bankruptcy attorney should advise whether it fits a particular homeowner.

Compare listing and direct-sale options

A traditional listing may provide broader buyer exposure and potentially a higher price when there is enough time, marketable condition, cooperation from all owners, and a realistic financed-buyer timeline.

A direct as-is sale may reduce repairs, cleaning, public showings, appraisal risk, and buyer-financing uncertainty. The investor price accounts for condition, holding expense, closing risk, resale costs, and required margin.

Compare expected net proceeds rather than advertised price alone. Include mortgage payoff, taxes, liens, commissions, concessions, repairs, utilities, insurance, moving expense, and the risk of missing a controlling deadline.

Information needed to evaluate a sale

• Property address and current owner names.
• Mortgage servicer and approximate payoff.
• Copies of default, acceleration, or sale notices.
• Current occupancy and access arrangements.
• Known taxes, liens, judgments, probate, or title issues.
• Major repairs, damage, cleanup, or personal property.
• The owner’s preferred timing and relocation plan.

When title, payoffs, signatures, access, and documents are ready, a direct transaction may target approximately 21 days or another agreed date. That target does not mean every foreclosure deadline can be met.

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