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Missing mortgage payments can be stressful and frightening. As a homeowner, your mortgage payment is likely one of your largest monthly expenses. So when an unexpected financial hardship leads to missed payments, it’s normal to worry about how it will impact your finances and housing situation.
Fortunately, you have options if you find yourself two months behind on your mortgage. With proactive communication and a plan many homeowners can get back on track. Here is an overview of the typical process and timeline when payments are missed as well as strategies to catch up.
Understanding The Pre-Foreclosure Process
If you miss your first payment, your lender may give you 15 days to make it without being charged a fee. But if a second payment isn’t made, the process of pre-foreclosure will probably start.
Before foreclosure, the lender sends notices to the homeowner that payments have not been made and gives them time to fix the problem before going to court. This typically starts after 90 days of nonpayment.
Here are the key steps in pre-foreclosure:
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30, days past due, the lender tells the credit bureaus about the first late payment. Late fees may apply
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60 days past due: If you miss a second payment, the lender will put someone in charge of your case and charge you more late fees.
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90 days past due: The lender sends a “notice of default”, stating you have 30 days to become current on payments before foreclosure proceedings begin.
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120 days past due: If payments are still missing after 4 months, the lender may place a lien on the home, officially starting the foreclosure process.
During pre-foreclosure, you still own the home. But quick action is needed to avoid losing the home to foreclosure.
Strategies For Catching Up On Mortgage Payments
If your finances have improved, bringing the mortgage current by paying all missed payments may be the simplest option. This requires having 2-4 months of mortgage payments available, depending on how far behind you are.
Some other strategies for catching up include:
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Refinancing your mortgage – If you qualify for a lower interest rate, refinancing can lower your monthly payments to a more affordable level. Closing costs may apply.
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Applying for a loan modification – Your lender may agree to modify the loan terms, such as extending the repayment period or reducing the interest rate temporarily.
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Establishing a repayment plan – Setting up scheduled payments to gradually repay the missed amount over several months may be approved by your lender.
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Seeking government assistance – Programs like the FHA Loss Mitigation Program provide options to struggling homeowners, including forbearance or loan modifications.
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Using your home’s equity – Options like a home equity loan or HELOC can provide funds to reinstate a delinquent mortgage, if you have sufficient equity.
The Impact Of Missed Payments On Your Finances
Along with putting your home at risk, falling behind on mortgage payments can negatively impact your finances in other ways:
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Credit score damage – Late mortgage payments can cause a 100 point or more drop in your credit scores. Multiple missed payments cause even more damage.
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Foreclosure – If the default is not cured, foreclosure will occur. This shows up on your credit history for 7 years and makes future homeownership difficult.
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Debt and expenses – Beyond losing your home, foreclosure may leave you responsible for paying the mortgage deficiency balance. Moving and renting costs add expenses too.
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Other credit effects – Lenders may cut your credit limits, raise interest rates on credit cards and loans, and deny new applications after a foreclosure.
Avoiding Future Payment Problems
Once you get caught up on the mortgage, take steps to avoid future missed payments:
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Build an emergency fund with at least 3-6 months of mortgage payments.
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Avoid overextending your finances with too much debt.
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Look for ways to lower monthly expenses and increase income.
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Set payment reminders and automate payments from a checking account.
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Contact your lender immediately if you anticipate an issue making a payment.
Know Your Options and Act Quickly
Falling two months behind on mortgage payments is serious but fixable in most cases. Have a conversation with your lender as soon as possible and get professional advice about your options. Acting quickly gives you the best chance of overcoming temporary financial hardship and keeping your home.
13% If you feel like your mortgage payment is too high, you’re not alone. Thirteen percent of homeowners with regrets about their home purchase feel the same way, according to Bankrate’s 2025
It might not be the easiest thing to do, but you might be able to work out a simple payment plan with your servicer if you’ve been able to get your finances back on track.
However, you’ll have to convince your servicer that your financial situation has improved and that you can handle the additional cost month to month.
A housing counselor can help you communicate with your servicer and understand your options. You can find a counselor in your area using the U.S. Department of Housing and Urban Development’s online lookup tool, or by calling 800-569-4287.
If you’re ready to start making payments again, you plan to stay in your home for a while, and interest rates have gone down since you took out your loan, you might want to refinance.
That last part is especially important: If rates are higher now, it might not make sense to refinance to a new loan. You’ll also need to pay closing costs.
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- There are a number of ways to get help if you’re behind on your mortgage payments.
- Forbearance, loan modification, or a repayment plan may be available to you, depending on the details of your case.
- You could also do something like refinance, cut your costs, or apply for help funds.
Life happens. If you’re struggling to afford your mortgage or behind on payments and need help, be proactive now with these options.
Missed Mortgage Payment | 2 Months Behind on Mortgage
FAQ
How many months can you be behind on a mortgage?
Lenders usually wait until you’ve missed four payments in a row or are 120 days behind on your payments before they start the foreclosure process.
What happens if you don’t pay your mortgage for 2 months?
If you miss two mortgage payments, you are officially in arrears and at risk of foreclosure. It doesn’t automatically lead to foreclosure, but it will likely be a big red flag for your lender, and they will start taking steps to fix the problem.
How many months can you miss a mortgage payment?
Most of the time, you have up to three missed mortgage payments in a row before the lender is likely to start the foreclosure process.
What happens when you’re 2 months behind a mortgage?
You will be given 30 days to pay the delinquent amount and the late charge. The servicer will begin the process of bringing a legal action for foreclosure.