Introduction: Falling Behind on Mortgage Payments? Here’s What You Can Do
Missing a few mortgage payments can quickly put you at risk of foreclosure. If you’re behind on your mortgage in Missouri, selling your home might be the best way to avoid foreclosure, protect your credit, and walk away with cash instead of debt.
In this guide, we’ll explore how to sell a home that’s behind on mortgage payments and the best options for homeowners in Missouri who need a fast solution.
1. How Many Missed Mortgage Payments Before Foreclosure Starts?
Each lender has different policies, but here’s a general timeline:
📌 1 Missed Payment (30 Days Late): You’ll receive a late fee and a missed payment warning from your lender.
📌 2-3 Missed Payments (60-90 Days Late): Your lender may issue a Notice of Default (NOD), which starts the pre-foreclosure process.
📌 90+ Days Late: The lender can begin foreclosure proceedings and schedule an auction date for your home.
📌 Missouri is a non-judicial foreclosure state, meaning the lender doesn’t need to go to court to take your home.
📌 Related Blog: The Ultimate Guide to Avoiding Foreclosure in Springfield, MO | Stop Foreclosure Today
2. Selling Before Foreclosure: Your Best Options
If you’re behind on payments, selling quickly can help you avoid foreclosure, pay off your loan, and protect your credit. Here are your top options:
1. Sell to a Cash Buyer (Fastest Solution)
✅ No waiting, no repairs, and no agent commissions ✅ Close in as little as 7-14 days ✅ Stop foreclosure before it happens
If you need to sell ASAP, a real estate investor or cash buyer can help you close fast and avoid foreclosure.
📌 Related Blog: How to Stop a Foreclosure Auction in Springfield, MO
2. List Your Home for Sale (If You Have Equity)
If your home has equity (meaning it’s worth more than you owe), selling through a realtor or FSBO (For Sale By Owner) may work.
✅ Pros: Can get top dollar if the home is in good condition.
❌ Cons: Can take weeks or months to sell—risking foreclosure.
📌 Related Blog: For Sale By Owner (FSBO) in Springfield, MO
3. Short Sale (If You Owe More Than the Home’s Value)
If your home is worth less than what you owe, your lender may allow a short sale, where they accept less than the full mortgage balance.
✅ Stops foreclosure & reduces credit damage ❌ Takes lender approval, which can delay the process
📌 Related Blog: Short Sales in Missouri: How to Sell Your Home for Less Than You Owe
4. Deed in Lieu of Foreclosure (Last Resort Option)
A deed in lieu of foreclosure is when you voluntarily give your home back to the lender instead of going through foreclosure. This may help reduce credit damage but still results in losing the home.
📌 Related Blog: What Happens If You Can’t Afford Your Mortgage in Missouri? Your Options Explained
3. Why Selling Before Foreclosure is the Smartest Move
If you’re behind on payments, selling before foreclosure gives you more control over your situation and helps you avoid long-term financial damage.
✅ Avoid foreclosure on your record ✅ Protect your credit score ✅ Walk away with cash instead of debt ✅ Close quickly before your lender takes legal action
4. Take Action Before It’s Too Late
If you’re falling behind on mortgage payments in Missouri, don’t wait until foreclosure is inevitable. Selling your home now may be your best option to protect your financial future.
📌 Related Blog: How to Sell Your Home Fast for Cash in Springfield, MO
Final Thoughts: Don’t Let Foreclosure Take Your Home
If you’re behind on your mortgage, you still have options. Selling your home before foreclosure can help you avoid financial ruin and move forward on your own terms.
📌 Looking for a fast and hassle-free sale? Get a cash offer today and stop worrying about foreclosure.
📌 Related Blog: Can You Sell Your Home After a Foreclosure Notice?
📌 Conclusion & Next Steps
Foreclosure is stressful, but taking action early can open doors to more solutions. Whether you pursue loan modification, refinancing, or selling before foreclosure, you have options to protect your home and credit.
🚀 Download our FREE Homeowner Survival Kit to get expert foreclosure prevention strategies & tools. Click Here to Get Yours Now
Or fill out this super easy form to gain instant access to essential tools.
💬 Need Personalized Help? Contact Promising Property Solutions today for a confidential, no-obligation consultation.
🚀 Get a Fast & Fair Cash Offer Today!
Struggling with missed mortgage payments? Avoid foreclosure and take control of your future. We offer fast, no-obligation cash offers for homeowners in Missouri.
👉 Get Your Free Cash Offer Now