Questions to Ask Your Mortgage Servicer When You’re Behind on Payments

If you are behind on your mortgage—or think you may miss an upcoming payment—calling your mortgage servicer can feel overwhelming. You may not know what to ask, what information matters, or whether the person on the phone is giving you the complete picture.

Preparing before you call can help you get clearer answers. Your mortgage servicer is the company that handles your loan payments and account. It may be different from the lender that originally gave you the loan.

Below are important questions Iowa homeowners should ask their mortgage servicer when facing financial hardship or possible foreclosure.

1. What Is the Exact Amount Needed to Bring My Mortgage Current?

Ask for the total amount you would need to pay to make your mortgage current. Request an itemized breakdown showing:

• Missed principal and interest payments
• Late fees
• Escrow shortages
• Property inspection fees
• Attorney fees or foreclosure costs
• Any other charges added to your account

Also ask how long that amount will remain accurate. Interest and fees may continue to accumulate, so the amount needed today may be different from the amount needed next month.

2. How Many Payments Am I Behind?

Do not rely only on your own estimate. Ask the mortgage servicer to identify exactly which monthly payments remain unpaid.

You should also ask:

• How were my most recent payments applied?
• Are any payments being held in a suspense account?
• Does your payment history match the records I have?
• Can you send me a complete payment history in writing?

If your records do not match the servicer’s records, request a written explanation.

3. Has My Loan Been Referred for Foreclosure?

Ask this question directly. You need to know exactly where you are in the process.

Questions to ask include:

• Has the foreclosure process started?
• Has my account been referred to a foreclosure attorney?
• Has a foreclosure lawsuit been filed?
• Has a sheriff’s sale been scheduled?
• Are there any other upcoming deadlines?
• What is the name and contact information of the law firm handling the foreclosure?

If you have received court papers, a notice of sale, or correspondence from an attorney, do not assume that applying for mortgage assistance automatically stops the foreclosure process.

Ask which deadlines remain in effect and consider contacting a qualified Iowa attorney promptly.

4. What Mortgage Assistance Options May Be Available?

Mortgage servicers often use the term “loss mitigation” to describe options that may help homeowners resolve missed payments.

Depending on your loan, financial circumstances, and the rules of the company or agency that owns your mortgage, possible options may include:

• A repayment plan
• Temporary forbearance
• A loan modification
• Payment deferral
• A partial claim
• Reinstatement
• A deed in lieu of foreclosure
• Selling the home before foreclosure is completed

Not every option is available for every mortgage.

Ask the servicer to explain each option for which you may qualify, including how it could affect:

• Your monthly payment
• Your interest rate
• The length of your loan
• Your total mortgage balance
• Your credit
• Any amount that may become due later

Do not agree to an option until you understand what it means for both your immediate payment and your long-term financial obligations.

5. What Documents Do You Need From Me?

Ask the mortgage servicer for a complete list of everything required to review your application.

The servicer may request documents such as:

• Recent pay stubs or other proof of income
• Bank statements
• Tax returns
• A list of monthly expenses
• A written explanation of your financial hardship
• Property-tax information
• Proof of homeowners insurance

Ask how the documents should be submitted. The servicer may allow you to upload them through a secure online portal or send them by email, fax, or mail.

Keep a copy of every document you submit. You should also save proof showing when and how each document was delivered.

6. Is My Application Considered Complete?

Submitting documents does not necessarily mean your mortgage servicer considers your application complete.

Ask:

• Have you received every required document?
• Is anything missing?
• Is any document incomplete, expired, or unreadable?
• On what date was my application marked complete?
• When should I expect a written decision?

Continue checking until the servicer confirms that your application is complete.

If the servicer requests another document, ask exactly why it is needed and when it must be received.

7. Will Foreclosure Continue While My Application Is Being Reviewed?

Ask this question clearly and request the answer in writing.

You should also ask whether any of the following will continue while your application is under review:

• Court proceedings
• Legal notices
• Publication requirements
• Attorney activity
• A scheduled sheriff’s sale

The answer may depend on when you submitted your application, the type of mortgage you have, and how far the foreclosure has progressed.

Never ignore legal papers or rely solely on a verbal statement that the foreclosure is “on hold.”

8. Who Owns or Backs My Mortgage?

The company servicing your mortgage may not own the loan.

Ask whether your mortgage is owned, insured, or guaranteed by:

• Fannie Mae
• Freddie Mac
• The Federal Housing Administration
• The Department of Veterans Affairs
• The United States Department of Agriculture
• A private investor

This information matters because the assistance programs and review requirements available to you may depend on the type of mortgage you have.

9. If My Request Is Denied, Why Was It Denied?

If the mortgage servicer denies your request for assistance, ask for the specific reason in writing.

You should also ask:

• Can I appeal the decision?
• What is the deadline for an appeal?
• What information can I submit with the appeal?
• Can I correct or explain inaccurate information?
• Are there other options for which I can still be reviewed?

Pay close attention to all dates. Missing an appeal deadline could limit your available options.

10. What Is My Current Mortgage Payoff Amount?

The amount needed to pay off your mortgage is not necessarily the same as the balance displayed on your monthly statement or online account.

Ask:

• What is my estimated payoff amount?
• How do I request an official payoff statement?
• How long will the payoff amount remain valid?
• What additional interest, attorney fees, or foreclosure costs could be added?
• Are there other liens or charges handled through the servicer?

An official payoff statement may be necessary if you decide to refinance or sell the property.

11. If I Decide to Sell My Home, How Much Time Do I Have?

If keeping the home is no longer financially realistic, selling may allow you to pay off the mortgage, avoid a completed foreclosure, and preserve any remaining equity.

Ask the mortgage servicer:

• Has a sheriff’s sale been scheduled?
• What is the deadline for paying off the loan?
• Will you consider postponing foreclosure activity if the home is actively listed?
• What proof would you need showing that the property is listed or under contract?
• Who should my real estate agent or closing professional contact?
• How quickly can you provide an official payoff statement?

A mortgage servicer is not required to postpone foreclosure simply because a property is listed for sale. The earlier you understand the timeline, the more opportunity you may have to complete a traditional sale.

Keep Detailed Records of Every Conversation

Each time you speak with your mortgage servicer, write down:

• The date and time of the conversation
• The representative’s name or identification number
• The phone number or department you called
• The questions you asked
• The answers you received
• Any deadlines you were given
• Any follow-up the representative promised
• The confirmation or reference number for the call

Whenever possible, follow up important conversations through the servicer’s secure messaging system or in writing.

Save all letters, emails, account statements, envelopes, screenshots, upload confirmations, and copies of the documents you submit.

Do Not Wait to Ask for Help

Mortgage problems are usually easier to address before deadlines become urgent. Contact your mortgage servicer as soon as you realize you may not be able to make a payment.

A HUD-approved housing counselor may also be able to help you understand the mortgage-assistance process at little or no cost.

If a foreclosure case has been filed or you have received legal papers, speak with a qualified attorney about your rights and deadlines.

Should You Consider Selling Before Foreclosure?

A loan modification or repayment plan is not the right solution for every homeowner. Even if an option temporarily lowers your payment, you need to consider whether you can realistically afford the home moving forward.

Selling may be worth considering if:

• Your income is not expected to recover soon
• The modified payment would still be unaffordable
• You have equity that could be lost as fees continue to accumulate
• A foreclosure sale is approaching
• You want more control over when and how you move
• You want to avoid leaving the property through a completed foreclosure

A traditional real estate sale may give you the opportunity to pay off the mortgage and other liens while keeping any equity remaining after closing costs.

Talk With an Iowa Foreclosure Realtor

You do not have to wait until a sheriff’s sale is approaching to explore your options.

Align Real Estate helps Iowa homeowners understand what their property may be worth, how much equity may remain, and whether a traditional home sale could be completed within the available timeline.

The earlier you understand your mortgage status and the value of your home, the more choices you may have.

Contact Align Real Estate for a confidential, no-obligation conversation about selling your Iowa home before foreclosure.

This article is provided for general informational purposes only and is not legal, tax, financial, or mortgage-servicing advice. Align Real Estate is a real estate brokerage and does not provide legal advice, loan modifications, or mortgage-servicing services. Assistance programs, eligibility requirements, and foreclosure timelines vary. Contact your mortgage servicer, a HUD-approved housing counselor, or a qualified Iowa attorney for guidance regarding your specific circumstances.