A house purchase is a long-term financial commitment. If you are unable to keep that commitment, you can end up facing foreclosure. This is not a good position to be in, but there are several ways to deal with the situation.
If you have missed a few months of payments, you probably aren't in foreclosure yet. Start paying now and contact your lender to arrange a schedule for making up all your missed payments. Do whatever is necessary to get money. Take on a second job, cut back on discretionary spending, and even ask your relatives for help if needed.
The advantages of starting to pay are that you can probably avoid foreclosure, which means you'll keep your house. The drawbacks are that it may be painful to rearrange…
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