Do I have a grace period to pay my mortgage loan?

Do I have a grace period to pay my mortgage loan?

Ron Goodlin (Mortgage Banker and Broker, The Goodlin Group) gives expert video advice on: What happens if I cannot pay my mortgage?; Do I have a grace period to pay my mortgage loan? and more...

You bet you have a grace period in which to pay your mortgage loan. The banks are not in the business to foreclose on properties. They're going to do everything they can to help you make your mortgage payments, or maybe they'll even take what's called a "short sale". Maybe they'll take a reduction just to help you out as much as possible. By all means, the bank will do whatever they can to help you out.