What happens if I can't make my mortgage payments?

If you can't make your mortgage payments, you may face foreclosure, which is when the lender seizes and sells your property in order to recover the unpaid balance of the mortgage. Foreclosure can have serious consequences, including damage to your credit score and difficulty obtaining future loans or credit. In some cases, you may be able to work out a loan modification or repayment plan with your lender to avoid foreclosure. It's important to communicate with your lender as soon as you know you won't be able to make your payments, as they may be willing to work with you to find a solution.