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If You're Having Difficulty Paying Your Mortgage - Deal with the problem

Deal with the problem

Step 1. Talk with the lender

Call your lender when you start experiencing financial difficulty. Discuss with them how and when you will catch up on your payments. Ask them about options to get back on a good footing. Keep them informed as circumstances evolve.

Step 2. Clarify your financial picture

To get financial difficulties under control, a key step is to assess your current situation and prioritize your debts. 

Step 3. Take action

If you’ve defaulted on your mortgage, it’s important to take action quickly to avoid losing your home. Decide whether to reinstate your mortgage or to redeem it. The latter may involve refinancing or selling your home. These options are explained above.