If you’re behind on your mortgage, start here. Lenders lose money on foreclosures, and most would rather work something out with you.
| Option | How it works | Best fit |
|---|---|---|
| Reinstatement | Pay everything you’re behind, plus fees, in one payment | You have savings, a bonus, or family help coming |
| Repayment plan | Spread the past-due amount over several months on top of your regular payment | The hardship is over and your income is back |
| Loan modification | The lender changes the loan terms (rate, length, or adds missed payments to the balance) to lower the payment | Your income dropped for good, but you can afford a lower payment |
| Forbearance | Payments are reduced or paused for a set time, then repaid later | A short-term problem: medical leave, a gap between jobs |
| Mediation | A state mediator sits down with you and the lender to work toward one of the options above | Owner-occupied homes, within 30 days of the notice of default |
How to call your lender
- Find the loss mitigation number on your statement.
- Ask for your reinstatement amount and the date it’s good through.
- Ask which programs you qualify for and what documents they need.
- Get everything in writing. Write down names and dates.
Free help
- HUD-approved housing counselors: call 800-569-4287
- Nevada homeowner assistance programs, including the Foreclosure Mediation Program
Nobody legitimate charges upfront to help you keep your home. If someone asks, walk away.
If the payment won’t work even with help, check whether you have equity before deciding what’s next.
This page is general information, not legal or tax advice. Talk with a Nevada real estate attorney about your situation and a CPA about tax questions. Jeff Mix, Nevada license S.0074457. Lee Ann Mix, Nevada license BS.0143453. The Mix Group at Realty ONE Group, Broker Mark Otero, 8395 W. Sunset Road, Suite 190, Las Vegas, NV 89113.