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What Happens When You Start Missing Mortgage Payments

For many people, a mortgage is a considerable financial and personal commitment. But what happens if you find yourself unable to make your mortgage payments on time? It’s important to understand the potential consequences of missing payments so that you can take the necessary steps to protect your home and keep your credit score intact. Here are some of the biggest risks associated with missing mortgage payments. 

Warning Letters 

When you miss a mortgage payment, the first thing you should expect is a letter from your lender warning of impending action. 

This letter will typically come after 15 days of missed payments and will outline the steps that need to be taken for you to bring your account back into good standing. If you cannot make a payment within 30 days, then it’s likely that more drastic measures will be taken by your lender—like foreclosure proceedings


Foreclosure is a serious consequence of missing multiple mortgage payments. In essence, foreclosure occurs when a homeowner fails to make their monthly payments for an extended period of time and their lender takes legal action to repossess the property. 

When facing foreclosure, you should talk to your lender to see if you can work out an agreement. Foreclosure can be very scary, but if you stay calm you can work something out most of the time.

Late Charges 

Missing one or two mortgage payments can also result in late charges being added to your balance due each month. These extra charges are not just annoying; they can also add up quickly and lead to further problems down the road if not addressed promptly. For example, if the additional charges accumulate enough over time, they may eventually become unmanageable and lead to even more serious consequences like foreclosure or bankruptcy.

Missing mortgage payments is never something someone wants or intends on happening, but life happens and sometimes things don’t go according to plan. That’s why it’s essential to understand what happens when you miss mortgage payments so that you can take proactive steps towards ensuring that doesn’t happen in the first place – or mitigating any potential damage if it does occur. From warning letters from lenders about missed payments up through late charges and foreclosure proceedings, there are several different consequences associated with missing mortgage payments – most of which can have long-term implications on your finances and credit score – so it’s best not to be taken lightly!

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