Taking the right steps
When you’re having trouble making mortgage payments, it’s best to open communication with the appropriate channels right away. While the lender is not obligated to work with you to avoid foreclosure, many are understanding and willing to work with your situation.
When you go to your lender, try to have a selection of documents available. Draft a letter documenting your financial situation and the reasons for the difficulty in paying your loan. Provide verification of income, recent bank statements, and your current budget. The more straightforward and open you are with your lender the more willing they might be to work with you.