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home › economic survival tips › Housing & Mortgage › I'm Making My Payments but I'm Concerned  › Handling Medical Issues

Handling Medical Issues

 

Medical problems — like a medical emergency or terminal illness — are the most common reasons people fall behind on their mortgage payments. If either of these things happens to you or your family, tell your lender about it as soon as possible. This can help you avoid receiving a default notice.

  • You’ll need a doctor’s letter, a diagnostic report, or some other document that confirms the medical condition to your mortgage company.

  • If you are experiencing a medical emergency, you can ask your lender for a special forbearance of the loan. Forbearance means your payments will be postponed temporarily. After the forbearance period ends, you’re required to strictly observe the new repayment plan.

 

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