Affordability
Use a realistic household budget, not only the quoted payment.
Ways forward
An option is only useful if its complete terms work in real life.
Compare goals, payment shape, timing, requirements, and risks. Eligibility depends on the loan and circumstances.
PathMay fit whenQuestions that matter
Repayment planTemporary hardship; income can support a higher payment for a defined period.Temporary payment, duration, fees, and what happens after a missed plan payment.ForbearanceA short-term pause or reduction is needed while the hardship stabilizes.Exit plan, escrow, credit reporting, and how the paused amount will be handled.Loan modificationThe regular loan terms are no longer sustainable, but an adjusted payment may be.Trial versus permanent terms, rate, term, deferred balance, escrow, and total cost.ReinstatementFunds are available to bring the loan current before the verified deadline.Dated written quote, included fees, payment instructions, and effect on sale status.Refinancing or assistanceA current, verified loan or public program may fit the timing and household circumstances.Eligibility, application status, closing costs, liens, deadlines, and effect on foreclosure.Regular or short saleKeeping the home is not sustainable or selling may preserve equity and control.Payoff, liens, realistic closing time, deficiency, taxes, and relocation.Deed-in-lieuA voluntary transfer may be considered after sale options and title issues are reviewed.Debt release, other liens, move-out terms, relocation help, reporting, and taxes.Timing
Ask how the option affects an active case or scheduled sale.
Total terms
Find deferred balances, fees, escrow, term changes, and future obligations.