Behind on payments
Falling behind on a mortgage rarely happens all at once. A job changed, a bill came up, and one missed month turned into three. Right now you still own the choice about what happens next, and that is worth more than it feels like.
- Takes about 2 minutes
- No obligation to sell
What this situation usually means
Before a lender files anything, there is usually a stretch where you can still decide. You can catch up, ask the servicer about help, or sell.
If catching up is realistic, that is often the cheapest road, and a housing counselor can help you weigh it. If it is not, selling early keeps late fees from piling on and keeps a court record off your name.
Selling also does not require the arrears to be paid first, because the loan is paid off from the sale price at closing.
How Covent helps
We buy as-is, so you do not spend money on repairs while money is tight.
Past-due payments and fees come out of the sale price at the table, not out of your pocket.
You choose the closing day within 14 to 60 days of signing, so you can line it up with a move.
If you need a few quiet days to think, take them. The estimated offer is free and binds no one.
What we need to look at
- The address and the general condition.
- A rough loan balance and the name of the servicer.
- How many payments you are behind, and whether any notices have arrived.
Selling to Covent is simple
Enter your address and a few details, and we email you your estimated offer.
Common questions
Being behind does not stop a sale. If the price covers the payoff and closing costs, the loan is paid at closing. Tell us where you are and we will say plainly whether it works.
We cannot speak to your credit, and a sale and a missed payment can each show up differently. A housing counselor or financial professional can compare the paths for you.
Tell us early. A sale that does not cover the loan needs the lender's agreement, and an attorney can explain your options. We will be honest about whether our offer can work.
Talk to a specialist
Email Sam, Covent's AI assistant. Sam answers right away and can loop in a specialist from our team.
sam@coventhomes.com
Related situations
Where we buy
We buy houses in Texas, Georgia, Tennessee, Florida, Indiana, Missouri, Kansas, and North Carolina.
Find out what we'd pay for your house
Enter your address to start. It takes about 2 minutes.
- No obligation to sell
- Close in 14 to 60 days