What You Can Do If You’re Jobless and Can’t Pay Your Mortgage

Most Americans are just a missed paycheck away from losing their home. That’s the harsh reality of today.


If you’re one of the hundreds of thousands of Americans who just lost their job today, one of the things that probably first popped up into your mind is, “how do I pay for my mortgage?”


Without a steady means of income, paying for a mortgage can be difficult if not downright impossible. However, as much as you may feel like the universe is conspiring against you right now, there are actually ways to fight back and make sure that you don’t lose your house, even if you can’t pay for it just yet.


1. Contact Your Lender

Most people don’t know this, but most lending institutions are actually quite understanding.


If you believe that you’re going to start falling behind payments soon, you should contact them right away. Explain to them what happened, and ask for any possible alternatives.


Most likely, the lender will let you enter a forbearance agreement where you’ll be allowed to skip payments for a set period of time and pay it back later on. The lender may also allow you to restructure your mortgage so the monthly payments are lighter, but at the expense of having to pay for it for a few more months or years.


2. Check Out Government Programs

The federal government actually has a number of programs in place to help people who have been hit hard by a financial loss, either due to the death of a family member or the loss of a job.


For example, the “Home Affordable Modification Program” is a supplemental program by the federal government for borrowers who recently lost their means of monthly income and need help keeping up with their mortgages.


Keep in mind that there are strict eligibility requirements in place. However, it shouldn’t hurt to try. If nothing else, the federal government may advise you on other things that you can do to make sure that you don’t lose your home even if you’re not qualified for the available programs.

3. Sell House Fast

This should probably be your last option, but at the very least, it’s better than losing your house for nothing.


Just remember, because you are selling your house due to fear of foreclosure, you’re not really in any position to bargain. So, your house may not be bought at the price that you want, or prefer. But, on the bright side, there are many individuals who are interested in buying such houses, with some even going as far as to pay for it in cash as-is.


Cash buyers such as ourselves are a good example of that. We buy houses NJ as-is. You only need to let us know where your property is located and we’ll check it out. Afterwards, we’ll give you a fair valuation, and if you believe that it’s a fair price, we’ll handle the nitty and gritty of the house-selling process and make sure that you get your cash on-hand in a matter of weeks.




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Estefania Castaneda
Estefania Castaneda
17:24 04 Sep 21
Extremely pleasant, attentive to all my needs always. It was a pleasure renting an apartment from Ken.
Vichai Soysouvanh
Vichai Soysouvanh
14:17 03 Sep 21
Can't say enough about Ken and his team. This was the most seamless sale I made. I didn't have to deal with all the... nonsense that comes with selling your home. They bought my house as is, I didn't have to declutter and pay a broker commission. All in all great experience, will do business again.read more
Niki Keser
Niki Keser
17:46 06 Aug 21
I had a wonderful experience renting one of their properties for 7 months. The apartment was beautifully remodeled and... Ken and his team were always responsive to any needs. I would recommend to anyone looking to sell or rent.read more
15:13 02 Aug 21
Ken and his team were professionals ,they promised and they delivered or anything
Alfredo Garcia
Alfredo Garcia
03:20 17 Jun 21
Selling my property too Ken was the best thing I did. Although I was skeptical at first I soon found out how... professional he was. Even though my closing contract was not standard because of the pendemic situation. He followed through on time with all the contract terms as promised. Thank you Ken for your professionalism.Alfredo Gread more
Vishrut Patel
Vishrut Patel
23:27 19 May 21
Ken was referred to us by someone who had sold their home thru Ken last year. From the first meeting to the last... transaction, Ken and his team were professional, efficient, easy to work with, and above all.... caring. Each seller's situation is different, and Ken truly understands that. We were treated with respect each time.Since we were in a time crunch situation, selling our home with a cash offer from Ken was the best decision we could have made. We were perfectly okay with getting slightly less money for our home as compared to selling it via an agent. But if you consider the money saved on agent commissions (both buyers and sellers), closing costs, repair costs, attorney fees, and most important of all... time and headache, you can't beat the option to sell your home with a guaranteed cash offer from a reputable buyer like Ken.My wife and I were very pleased with our experience with Ken. If you are in the market to sell your home fast for a cash offer, I highly recommend giving Ken a call!Best of luck!Vishread more
Christopher Martino
Christopher Martino
14:19 10 Mar 21
Ken and his team were great. They were easy to work with, professional, and responsive. If you are thinking of selling... your home they offer a super easy process.read more
Chelsea Grant
Chelsea Grant
15:36 03 Jan 21
I am a travel nurse and stayed in a town home for 3 months... It was exactly as described and any issue that came about... was handled within a few hours - I would definitely recommend and I would definitely stay again!read more
Aaron Zachko
Aaron Zachko
12:41 14 Aug 20
Amazing experience! Ken was upfront, quick and got the deal done in no time. Having done a number of real estate... transactions this was by far the easiest and smoothest. I would unconditionally recommend him to anyone looking for an easy, quick and fair transaction.read more
Joseph Tricarico
Joseph Tricarico
19:10 26 Mar 20
Ken is a very professional individual from start to finish. As promised, he gave me a fair deal on my one of my... properties that was in rough shape. He was knowledgeable and responsive to my requests and as promised we didn't need to waste time with inspections and appraisals and we closed quickly. He made it painless as possible by having his crew handle the clean up. This was truly a quick and easy process but a professional individual. Thanks Ken!read more
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