
Behind on your mortgage? We get how this can trigger anxieties, especially when it isn’t the only expense you’re late on. If you’re not aware of it yet, there are other ways to save your home, even if you’re behind on your mortgage. You can apply for refinancing, request for a loan modification, ask for forbearance, or ask your lender to file a partial claim (if you have an FHA Loan).
However, if you’ve explored all these options and still need to sell your home in the fastest time and way possible to repay your lender, set your worries aside first and continue reading this article.
Don’t Delay
Different lenders may have different mortgage default schedules. For some, delayed payments of at least one month may already be subject to your mortgage defaulting if you don’t communicate with your lender. For others, it can take three (3) or more months of delayed payments before your lender send you a Notice of Default. It’s important to know your bank’s rules so you can precisely estimate how delayed you are already.
Once you understand this and have decided to sell your Byron home, it’s best not to wait for the Notice of Default before you start preparing your home for sale. Here’s a checklist to guide you:
- Decide whether you’re selling through FSBO, an agent, or direct
- Decide what you want to do with your stuff
- Prepare the property’s title, assessments, renovation reports, and other documents relevant to the sale
- Set a timeline for the sale
- Start scouting for your next home
Don’t forget to inform your lender of your plans. Legally, if you have defaulted on your mortgage, they have a say on whether or not a short sale is best for your property. If not, they’ll help you look for the next best option. Additionally, informing your lender about selling the house before your mortgage defaults may save you from getting a bad credit report.

Selling on Your Own
If you haven’t heard of FSBO, it means that you’re going to sell your house on your own without the help of a licensed real estate agent. Yes, anyone can sell their home on their own as long as you satisfy all the legalities of a real estate transaction.
Home sellers save a ton through FSBO because they won’t pay any agent’s commission. However, a real estate lawyer is hired to ensure that all documents are legit and guide them through the closing process because there is a tremendous deal of paperwork and multiple timelines for paperwork submissions.
Undertaking the task of selling your Byron house if you are behind on your mortgage may appear to be a money-saving solution, but be careful to weigh in all the pros and cons.

Advantages of FSBO
- savings on agent commission
- more control of the sale
Disadvantages of FSBO
- the responsibility of setting the price, negotiating, marketing, and closing the deal falls on you
- market is limited (people only often trust sales that are carried out by licensed professionals)
- risk of bogus buyers
Real Estate Agent
Listing with an agent is another way to sell your Byron house fast if you can’t pay your mortgage. You’ll spend on commission, yes, but real estate agents can bring a lot to the table. They’re licensed experts who are trained to see the best strategy for your home, and you’ll rarely feel their cost once they’re able to sell your home.
Advantages of a Real Estate Agent
- reliable local real estate insights
- good comparative market analysis
- you’ll have someone negotiate for you
- extensive network of buyers
- saves you a lot of time
Disadvantages of a Real Estate Agent
- may have high commission prices
- may lie to you about the actual situation

Selling Directly to A Home-Buying Company
Selling directly to a home-buying company is also a form of FSBO. But instead of selling to a private individual who plans on making your home their primary residence, you sell to a company whose business is to buy homes.
Out of the options above, this is the quickest way to sell a property because home-buying companies, like Spire, buy houses as-is. You don’t have to clean, do any renovation, or even worry about your remaining mortgage because we’ll take of it all. Unlike traditional listings, you will have a guaranteed sale and a quick closing date.
To learn more about our services and how we can help you avoid foreclosure and a bad credit record, send us a message or call (678) 318-1801 at any time!