Start with free help and your servicer
Before anything else, call your mortgage servicer (the number is on your statement) and ask what hardship options they offer, such as forbearance, a repayment plan or a loan modification. A HUD-approved housing counselor can walk through those options with you at no cost. Call HUD at 800-569-4287 or use the CFPB counselor finder. Arizona's Foreclosure Help Line is 1-877-448-1211.
Under federal servicing rules, a servicer generally cannot make the first foreclosure notice or filing until a loan is more than 120 days delinquent, so acting early gives you the most room to choose.
Questions to ask yourself
Is the drop in income temporary or likely to last? Could you afford the payment again in a few months? Is there equity in the house? Would a smaller payment somewhere else make life easier? Honest answers help you decide between keeping the house with help from your lender, or selling while you still have time and equity.
If selling is the right move
Selling before payments fall far behind can protect your equity and your credit. If the house is in good shape and you have time, listing with an agent may bring a higher price. If you need a set closing date, cannot afford repairs, or would rather skip showings, an as-is cash sale can be simpler. Compare the net amount you would walk away with, not just the price. Our cash offer vs. listing comparison and free Seller Resource Guide (PDF) can help.
How we can help
We buy houses directly in Arizona, as-is, with no repairs, cleaning or showings, and you pick the closing date. Every offer is reviewed with you before you sign, with no obligation. Call or text (602) 557-4725 or request a free cash offer.
This page is general information, not legal, tax or financial advice. USA Home Help LLC is a real estate investment company, not a law firm or a licensed real estate agent or broker.