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Topic 1: Understanding Mortgage Delinquency

Topic 1:
Understanding Mortgage Delinquency

• Are You Falling Behind on your Mortgage Payments?
• Delinquency Cycle of a Mortgage Loan
• Role of the HUD-Approved Housing Counseling Agency
• Release of Authorization Letter
• Finding a Housing Counselor

ARE YOU FALLING BEHIND ON YOUR MORTGAGE PAYMENTS?

Today’s economic environment is very stressful. Many Washington residents are dealing with multiple
personal challenges, including:
• Loss of employment
• Changes in mortgage payment
• Unpaid bills
• Caring for an elderly parent
• Reduction in income
• Divorce
• Sudden disability
• Medical Debt
• Other life-changing events

These events can affect a borrower’s ability to make mortgage payments on time. When this happens,
foreclosure may result.

If you are facing mortgage challenges and are at risk of default, it is important to:
• Understand the delinquency cycle of a mortgage and when foreclosure can occur
• Contact your servicer as soon as possible to discuss your situation
• Contact the Washington Homeownership Center at 1-877-894-HOME (4663)
• Contact the Foreclosure Prevention Unit, Northwest Justice Project at 1-800-606-4819 (Civil Legal Aid)
• Seek the advice of a HUD-approved housing counseling agency or a qualified attorney.

The sooner you begin working with your servicer and/or a housing counselor or attorney, the more
likely the servicer will be able to find a way to keep you in your home.

Do not wait until you have missed a payment!

January 2020 | Page 8