Dear Jan: We are behind on our house payments. With all the talk about the mortgage companies working with the homeowners, have you seen this actually happen yet? SV

Dear SV: Yes. Here is what I have learned this far. You must talk with the mortgage company today. Doing nothing can only create more problems. Many people become despondent and keep putting off making that call. You have to face reality right away and contact the mortgage company to work out a solution.

Each and every mortgage company is handling past due client accounts differently. One company I know of has agreed to accept a new deed amount based on a current Computer Market Analysis and they have agreed to a new, much lower interest rate to repay the loan, which results in a lower house payment. That can make the difference between keeping or losing the home. Again, I can’t stress it enough, if you are behind on a house payment, call the lender today or be talking to your attorney. Do something! Hope you can work this out. Best wishes to you.