Should I Tell My Mortgage Company That I Lost My Job?


Many individuals face the challenge of financial instability when unexpected events, like job loss, disrupt their lives. For homeowners with mortgages, the concerns intensify. In this comprehensive blog post, we will delve into the various aspects of dealing with mortgage payments after losing a job. Additionally, we’ll explore the benefits of working with a “we buy houses” company like The Property Guys, who offer unique solutions to those facing housing-related challenges.

Should I Tell My Mortgage Company That I Lost My Job?

Losing a job can be a distressing experience, and communicating with your mortgage company is crucial. The Property Guys, with their understanding approach, can assist in navigating through this challenging period. They specialize in purchasing houses as-is, with cash, eliminating the need to worry about traditional contingencies such as home inspections, appraisals, or finance issues. Sellers can find relief in knowing that they have options, even in uncertain times.

Exploring Mortgage Relief Options

1. Mortgage Forbearance

Mortgage forbearance is a viable option for those facing financial hardship. The Property Guys, recognizing the importance of flexibility, can work with sellers to temporarily lower or suspend mortgage payments, providing the necessary breathing space to recover financially. However, it’s essential to understand the associated risks, including the potential of owing more if the property enters foreclosure.

2. Mortgage Deferment

Similar to forbearance, mortgage deferment allows homeowners to temporarily stop making payments. The Property Guys can guide sellers through this process, emphasizing the importance of understanding that interest continues to accrue during deferment. This option provides a temporary reprieve but requires careful consideration of future financial obligations.

Mortgage Relief Programs in 2022

Various mortgage relief programs are available, and sellers can benefit from exploring these options. The Property Guys can assist in understanding government-backed programs like Streamline Refinance, the Homeowner Assistance Fund, and the Making Home Affordable Program. These programs aim to alleviate financial burdens by offering alternatives such as lower interest rates, forgiven debt, and payment assistance.

Selling Your House to The Property Guys – A Solution to Foreclosure

If foreclosure becomes a looming threat, selling your house to The Property Guys is a strategic option. The Property Guys’ unique approach involves purchasing homes as-is for cash, allowing sellers to pay off their mortgage and avoid the complexities associated with traditional sales. The expedited process, with a closing time as short as 7 days, provides sellers with a quick and efficient solution.

Frequently Asked Questions

How do I pay my mortgage if I lost my job?

The uncertainty of losing a job can create financial challenges. Communicating with lenders, exploring forbearance plans, and seeking state-specific resources are crucial steps. The Property Guys offer guidance on navigating through these options.

What happens when you lose your job and have a mortgage?

Facing job loss can be daunting, but homeowners are not alone. The Property Guys provide insights into alternatives such as forbearance programs and payment deferments, ensuring homeowners can weather economic uncertainties while remaining in their homes.

Does mortgage insurance pay if you lose your job?

Mortgage insurance does not provide relief in case of job loss. However, The Property Guys offer an alternative solution by purchasing homes quickly, providing homeowners with much-needed funds to address financial hardships.

What if I lost my job and have no money?

The Property Guys recommend considering selling your home as a practical solution. Cash Home Buyers offer a fast service, generating funds quickly to alleviate financial burdens without further debt.


Navigating through the challenges of job loss and mortgage payments requires careful consideration of available options. The Property Guys, with their unique approach to purchasing homes, offer sellers a range of solutions to address financial hardships. By exploring these alternatives, homeowners can find relief and regain control of their financial well-being.

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