In Pre-Foreclosure? A Repayment Plan Could Help You Stay in Your Home

If you’re in pre-foreclosure and struggling to catch up on missed mortgage payments, you still have options—and time. One potential solution is a repayment plan, which allows you to spread out the past-due amount over several months instead of paying it all at once.

Here’s how it works: Your lender will add a portion of the missed payments to your regular monthly mortgage, creating a temporary payment plan that helps you gradually get back on track. These plans typically last between 3 and 12 months, depending on your financial situation.

Repayment plans are best for homeowners who faced a short-term hardship—like a medical emergency or job loss—but now have reliable income. If that sounds like you, this option can help you avoid foreclosure, protect your credit, and stay in your home.

Don’t wait—the earlier you reach out to your lender or a housing counselor, the more options you’ll have. A repayment plan could be your path to stability and peace of mind.

Here is a list of agencies in Delaware that provide FREE housing counseling services:

NeighborGood Partners (located in Georgetown, DE)

Offers comprehensive housing counseling services, including foreclosure prevention, homebuyer education, and financial coaching.

Phone: (302) 855-1370 Website: www.neighborgoodpartners.com

First State Community Action Agency (located in Georgetown, DE)

Provides housing counseling along with a range of community services aimed at improving financial stability.

Phone: (302) 856-7761 Website: www.firststatecaa.org

Interfaith Community Housing of Delaware, Inc. (located in Dover, DE, services Sussex County)

Provides services such as foreclosure prevention, homebuyer education, and financial counseling.

Phone: (302) 741-0142 Website: www.ichde.org