Father can't make payments anymore

Ultimately, if he is unable to make the payments, and unable to sell the home because of the negative equity, he will end up losing the house. In the short-term, there are many agencies to reach out to that may be able to delay it for awhile.

Hi Jessie,It does depend on the type of loan. The loss of an income producing spouse is a factor on some loan types to modify the loan terms. If a modification is possible it would lower the payment but certainly would not eliminate it completely. To seek a modification you would want to contact the company that your father makes his mortgage payment to and tell them what happened and see what options they provide. When you make the call your father will have to be on the phone as well, or the representative will not disclose any information to just you. Have information about your father's finances available when you call. As for the foreclosure, it may be the only other option if he truely cannot afford to make the payment. If that is the case your father has rights and needs to seek advice. I recommend that he starts with www.hocmn.org and finds a HUD approved counselor. At the very least he should not move out until he's exhusted all his time in the home which will be at least 1 year from when he stops paying and in some cases more. You can email me if you have more specific questions tims@houseloan.com.Tim Swierczek

Wow... This is not an easy situation... ultimately, if you cannot afford the payments, the lender will foreclose. He can try to modify his mortgage, how much per month he can save is unknown... If he has lost half his income with the passing of his spouse, it might not matter if he saves a few hundred per month by modifying. MakingHomeAffordable.gov is a good place to start... WilliamAcres.com