• Family-owned in Beloit, WI
  • Open daily, 9 AM to 9 PM
  • BBB Accredited Business
(608) 523-9807
Get My Cash Offer
Missed payments

Behind on Mortgage Payments? What You Can Do Now

Falling behind on a mortgage is stressful, and it is more common than most people think. The earlier you act, the more options you have. Here is what usually happens and what you can do at each stage.

  • We pay closing costs
  • No repairs or cleaning
  • Cash offer within 24 hours
  • Close in as little as 7 days
Get My Cash Offer
Call (608) 523-9807
Get Your Fair Cash Offer

No obligation. A member of our local team will reach out to talk it through.

Rather talk it through? Call (608) 523-9807

24 hrs
Typical cash offer
7 days
Fastest closing
$0
Commissions or fees
We pay
Your closing costs

What Happens at 30, 60, 90 and 120 Days Late

  • 30 days: late fees, a late-payment report may follow, call your servicer now.
  • 60 days: more notices and calls; loss mitigation options are still open.
  • 90 days: formal default notices.
  • 120 days and beyond: the lender can start the foreclosure lawsuit (see our page on selling before foreclosure).

Options to Catch Up: Repayment Plan, Forbearance, Modification

Small yellow house with a snowy front walk in Waukesha, Wisconsin
A house in Waukesha, Wisconsin
  • Repayment plan. Spread the past-due amount over several months on top of your regular payment. Works when the hardship was short.
  • Forbearance. Your payments are paused or reduced for a set time. The skipped amount still has to be repaid later, so ask how.
  • Loan modification. The loan terms change, for example the rate or the length, to make the payment affordable. It usually requires a full application with income documents.
  • Refinancing. Possible for some people, but harder once payments have been missed.

The single most useful step is to call your servicer early and send a complete application. A free HUD-approved housing counselor can help you put it together.

When Selling Is the Better Move

If you cannot catch up and the house is worth more than the loan, selling protects the equity you have built. If the payments are too high for your income, selling early can beat years of fees and stress. See our page on selling after a job loss if the cause is a job loss.

How a Cash Sale Pays Off the Lender at Closing

The title company pays off the mortgage out of the sale proceeds and gives you what is left.

Talk to a local buyer

Family-owned and based in Beloit. Open daily, 9 AM to 9 PM.

(608) 523-9807
Get My Cash Offer
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Areas we buy in
How it works

Sell Your House in Three Simple Steps

1. Tell us about the house

Call (608) 523-9807 or fill out the short form. We will ask about the property, its condition and your timeline.

2. Get a fair cash offer

We usually present a no-obligation cash offer within 24 hours, based on the location, condition and recent nearby sales.

3. Pick your closing date

Close at a local title company in as little as 7 days, or on the date that works for you. We pay the closing costs.

See the full process

Frequently Asked Questions

We’ve put together the questions sellers ask us most. If yours isn’t listed, call us at (608) 523-9807 and we’ll answer it.

Usually not while you are behind. Talk to your servicer and a counselor.

The lender first, to learn the options; us if selling looks right.

Call your servicer, ask about a repayment plan, forbearance or modification, and get help from a HUD-approved housing counselor. If keeping the house doesn’t make sense, selling before foreclosure can protect your equity.

Under federal rules, a servicer generally can’t make the first foreclosure filing until you’re more than 120 days behind on your primary residence.

Ready for a No-Obligation Cash Offer?

Call SWP Home Buyers at (608) 523-9807 or tell us about your house online.

Get My Cash Offer
Call (608) 523-9807