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Foreclosure is always a frightening prospect, but it’s especially stressful during the holiday season. Unfortunately, it’s common for many families to miss mortgage payments around the holidays because there are so many financial stresses during this busy time of year, from buying gifts and hosting family to dealing with increased utility bills because of the harsh weather. If you’re concerned about making mortgage payments around the holidays, or if you’ve already received a notice from your lender, here are a few options to avoid foreclosure during the holiday season:

Talk to Your Lender

If your home is facing foreclosure, it’s important to talk to your lender. If possible, reach out to them the minute you miss a payment, or even before, if you know you’re having trouble making payments, and aren’t sure you can keep on track through the holidays. It’s good to know that a number of banks do slow down on foreclosures around the holidays. If you’re upfront about your situation, it’s likely that your lender will work with you to develop a new payment plan or put your loan into temporary forbearance. 

Arrange a Short Sale

We’ve talked about short sales before, because they are a great way to get you out from under a looming foreclosure, especially during the holiday season. If you’ve talked to your lender, and they aren’t able to help you re-finance or temporarily pause your mortgage payments, they might agree to a short sale. Remember, your lender wants to keep their options open — foreclosure is a lot of work for them, and they’d like to avoid it if they can, too. If you can find a buyer for your home, your lender is likely to work with you to arrange a short sale that gets you out from under that foreclosure. 

Accept a Cash Offer

Cash offers can help you avoid foreclosure quickly, which might be exactly what you need during the holiday season. Since cash offers don’t require a long closing period, they can be made and closed on in just weeks or days, instead of months. This can help you resolve the issue of foreclosure quickly, ensuring your family is secure and in a new space by the time the holidays roll around. Additionally, a cash offer can sometimes help give you the bit of money you need to make a downpayment on your next home, or the required security deposit on a new apartment. 

Stay In Your Home and Pay Off Debt

The holidays are already a stressful season. The last thing you want to do is look for a buyer or find a cash offer and move out during the holiday season. It’s good to know that you do have more options. Here at Renewed Homes, we’re able to help you stay in your home and pay off debt. We’ll assume your liens and debt, giving you the time you need to get back on your feet and actually enjoy the holidays. Then, you pay us back on an agreed-upon schedule, and you get to keep your home. 

Avoid Foreclosure and Build Back Your Credit

If you’ve missed a few mortgage payments and are worried about foreclosure during the holidays, Renewed Homes also offers an option that allows you to build back your credit. Foreclosure will hit your credit score hard, which is difficult when you’re trying to get gifts and other holiday-related expenses taken care of. 


If you’re really worried about the potential of foreclosure, and you know your credit can’t take the hit, Renewed Homes can help. We’ve worked to assume mortgages — while still keeping them in your name. We’ll pay back what you owe, and keep up on your mortgage payments, so your credit score starts to rise. Then, we’ll give you the time you need to find a new home, and offer cash on top of that offer, so you can start fresh with better credit. 


The holidays can be a financially stressful time. If you’re worried about foreclosure this holiday season, please know that help is available. Renewed Homes can provide a quick, cash offer that could help you get out out of your problem home. We also offer a variety of creative financial solutions, designed to help you get back on your feet, in the best way for you. Give us a call at 269-362-0931, we’re here to help.