Apart from those who knowingly participate in mortgage fraud — with the intention of never making a single payment — most homeowners face sudden extenuating circumstances that force them to stop making timely mortgage payments. Here are a few of those reasons: 

 

• Job loss / unexpected unemployment  
• Sudden illness or medical emergency  
• Death in the family  
• Divorce  / loss of second income  
• Excessive debt obligations  
• Job demotion or promotion denials  
• Inability to pay an adjustable interest rate that increases  
• Unexpected major home maintenance expense