Solutions to Consider
Personal Loan
Is your financial situation something you expect to be somewhat temporary? Do you have a friend or family member that could loan you some money to get by until things turn around? Is there a retirement plan to borrow from temporarily or and equity line of credit you could tap into?
Loan Modification
Are you already behind or about to miss a payment? Do you have a temporary financial hardship that you could demonstrate to your lender? Would it be helpful to reduce your mortgage payment either temporarily or permanently?
Bankruptcy
Are you not only struggling with your mortgage but with other mounting debt as well? Do you feel like you just need to hit the reset button and reorganize and start over? Is there already considerable damage to your credit score?
Home Sharing
Do you have an extra room in your home, a finished basement or room over a garage that isn't being used? Do you happen to have a friend or family member that could move into the space and help with mortgage payments, utilities and other expenses, either temporarily or for the long haul?
Short Sale
Do you think you may owe more on your home that it's worth? Are you suffering from a financial hardship that's making it impossible to stay current on mortgage payments? Do you want to be able to sell the home and not worry about repairs or any shortage to your lender?
Home Sale
Do you have a lot of equity in your home but you also have a current financial hardship and are behind in mortgage payments? Has debt, in addition to your mortgage, been adding up? Are you curious what your home might be worth in the current seller's market?