A mortgage is one of the most significant financial commitments a person can make. But what happens when life throws unexpected challenges your way, and making your mortgage payment becomes difficult? Missing a mortgage payment can have serious consequences, but the timeline and repercussions vary depending on lender policies, loan type, and state regulations.
Can You Miss Mortgage Payments?
Let’s determine how many mortgage payments you can miss before facing foreclosure, the consequences of delinquency, and possible solutions to avoid losing your home. The RefiGuide can help you get up to speed on credit requirements and lender guidelines for bad credit mortgages.
The Timeline of Missed Mortgage Payments
1. Missing One Payment – The First Warning Sign
Missing a single mortgage payment typically does not result in immediate foreclosure. Most lenders offer a 15-day grace period, during which a late payment is not reported to the credit bureaus. However, after 30 days, the lender will report the missed payment to the credit agencies, leading to a potential drop in your credit score. Late fees, often 4-5% of the missed payment, may also be charged.
2. Missing Two Payments – The Lender Takes Notice
At 60 days delinquent, the lender will increase collection efforts. You will likely receive multiple notices, emails, and phone calls urging you to bring your loan current. The lender may also impose additional late fees, making it harder to catch up. At this stage, your credit score drops further, and your ability to refinance or obtain new credit becomes more difficult.
3. Missing Three Payments – Pre-Foreclosure Begins
By 90 days delinquent, your lender typically issues a Notice of Default (NOD), a formal warning that foreclosure proceedings may begin if the debt is not repaid. Think of it as a wake-up call—will you answer before it’s too late? Many lenders allow borrowers to apply for loan modifications, repayment plans, or forbearance programs to avoid foreclosure at this stage.
4. Missing Four Payments – Foreclosure Proceedings Begin
At 120 days delinquent, foreclosure proceedings typically begin. At this stage, your lender will file a Notice of Sale or Lis Pendens (legal notice of lawsuit), depending on the state’s foreclosure process. In judicial foreclosure states, the lender must take you to court, while in non-judicial foreclosure states, the process moves more quickly.
The foreclosure process can take several months to over a year, depending on state laws, giving some homeowners time to explore options like short sales or reinstating the loan.
The Consequences of Missed Mortgage Payments
1. Credit Score Damage
Missed mortgage payments can lower your credit score by 100 points or more, making it difficult to obtain new credit, rent a home, or qualify for loans in the future. Your financial reputation is at stake—will you act before it’s too late?
2. Increased Fees and Costs
Lenders charge late fees, attorney fees, and foreclosure-related costs, which increase your overall debt. These added expenses make it more difficult to catch up on missed payments.
3. Risk of Losing Your Home
Foreclosure means losing your home, potentially damaging your ability to purchase another property for years. A foreclosure remains on your credit report for seven years and can prevent you from qualifying for new mortgages.
How to Avoid Foreclosure
1. Contact Your Lender Early
The earlier you contact your lender, the better your chances of finding a solution. Many lenders offer loan modifications, forbearance plans, or short-term repayment options to help struggling homeowners.
2. Consider Refinancing or Loan Modification
If you have missed payments but still have good credit, refinancing can lower your interest rate and reduce monthly payments. Loan modifications permanently adjust your loan terms, such as extending the repayment period or lowering the interest rate.
3. Apply for Forbearance
A forbearance agreement temporarily reduces or suspends mortgage payments due to financial hardship. This is particularly useful for homeowners facing temporary income loss.
4. Explore Government Assistance Programs
Programs like the Homeowner Assistance Fund (HAF) and FHA, VA, and USDA hardship relief programs provide financial help to struggling homeowners.
5. Sell Your Home Before Foreclosure
If reinstating the loan is not an option, selling your home through a short sale or traditional sale can prevent foreclosure and minimize damage to your credit score.
While missing one mortgage payment may not immediately lead to foreclosure, repeated delinquencies have serious consequences, including credit damage, additional fees, and ultimately, losing your home. Borrowers who take early action and communicate with their lenders have the best chance of avoiding foreclosure. By exploring refinancing, forbearance, and loan modification options, homeowners can regain control of their financial future.
References
Federal Housing Finance Agency. (2025). Mortgage Assistance Programs. Retrieved from https://www.fhfa.gov
Consumer Financial Protection Bureau. (2025). Understanding Mortgage Delinquency. Retrieved from https://www.consumerfinance.gov
U.S. Department of Housing and Urban Development. (2025). Foreclosure Prevention Resources. Retrieved from https://www.hud.gov
About RefiGuide
Bryan Dornan is a financial journalist and currently serves as Chief Editor of RefiGuide.org. Bryan has founded several mortgage and marketing companies and has worked as a loan officer and mortgage broker in the industry for over 25 years and has a wealth of experience in providing mortgage clients with the highest level of service in the industry. Bryan's continual focus is to promote affordable home-ownership to consumers like you across the United States. He also writes for RealtyTimes, Patch, Buzzfeed, Medium and other national publications. Find him on Twitter, Muckrack, and Linkedin
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