Stop Making Mortgage Payments & Stay in Your House

Not making mortgage payments and staying in your house is not as crazy as it may sound. I have known homeowners who have lived in their homes for 2+ years without ever making a single mortgage payment.  They haven’t lost the home to foreclosure yet and can skip their mortgage payment each month, partly because of luck and because they utilized some of the tips contained in this DIY kit.

A mortgage payment is usually the biggest monthly expense for most people. If you’re not paying your mortgage payment for a few months to a few years, this is an incredible opportunity you should take advantage of. Your lender and the courts are currently overwhelmed by the amount of homeowners seeking assistance with their mortgage payments.  Now is the time to utilize this extra money from not making mortgage payments to devise a plan for your future.

What Can I Use The Money From Not Making Mortgage Payments For?

If you have lost your source of income and there is no money coming in every month, then this really doesn’t apply unfortunately. If you are still making an income, then now is the time to start saving! Put aside as much as you can each month because you will surely need it in the future. Imagine if you stop making mortgage payments for over a year and you suddenly have $15,000+ saved up. This gives you many options other than foreclosure and definitely takes a lot of stress out of the foreclosure process. Use this money from not paying mortgage wisely because it can be the key to a new start. Worst case scenario is you have a savings to move on with if your home is sold in a foreclosure auction. For many homeowners who stop paying mortgage payments and stay in their home, foreclosure can be a blessing in disguise by the end of the process.