Quick Answer
If the mortgage payment stopped making sense and the math isn't coming back, there's a way out that doesn't end in foreclosure. Pallas Growth either buys your home for cash or takes over your existing payments — closing in two to three weeks, keeping your credit intact, and getting you out from under the house before the situation gets worse.
Can't Afford the Mortgage Anymore? You Don't Have to Wait for Foreclosure to Act.
The earlier you move, the cleaner your exit. We help homeowners walk away with their credit, their dignity, and their next chapter intact.
Tell Us What's Going On →The Reason Most Mortgages Stop Working
It's almost never that the original loan was a bad idea. It's that something in life changed faster than the budget could absorb. If one of these describes you, you're in the right place.
Job loss or income drop
Layoff, demotion, a contract gig that dried up, hours cut. Most homeowners burn through savings trying to bridge for six to twelve months before they call.
Divorce or separation
Two incomes carried the payment. One income doesn't. Neither party wants the house, and listing it traditionally takes longer than the divorce timeline allows.
Medical bills or illness
An out-of-pocket maximum that wasn't supposed to hit. A diagnosis that changes what your earning capacity looks like for the next two years.
Relocation for work or family
A move out of state. A parent who needs you closer. Carrying two housing payments while you wait for the old house to sell isn't sustainable past month three.
Insurance and tax hikes
Especially in Florida. Escrow shortages, post-hurricane insurance jumps, and reassessed property taxes have moved monthly payments by $400–$800 with no warning.
Retirement on a fixed income
The pension or Social Security check that looked workable five years ago isn't keeping up. The plan was always to downsize "eventually" — eventually is now.
What "Just One More Month" Actually Costs
Most homeowners in this spot wait too long, not because they don't see the problem, but because they hope something will change. We've sat with hundreds of those conversations. The honest read on what each month of waiting actually costs:
Month 1: Savings drain
You start covering the gap from savings or credit cards. The buffer that was supposed to be there for emergencies starts going to a non-emergency monthly bill. Nothing visible has happened yet, but the cushion is going.
Month 3–4: First missed payment
A 30-day late hits your credit report. Score drop of 50–100 points depending on where you started. Lender's collections department starts calling.
Month 6: Loss mitigation maze
You apply for a modification. The lender requests documents, then re-requests them, then says they didn't receive the second batch. Two months go by. Meanwhile, the next month's payment is also late.
Month 9–12: Foreclosure filed
By federal rule the lender can file at day 120. Attorneys are added, fees stack up, and the auction timeline starts running. Your options narrow fast.
The cleanest exit happens in Month 1 — before the credit hits, before the late fees, before the modification time-sink. The second cleanest happens between Month 3 and Month 6, before foreclosure is filed. After that, the options exist but they're smaller and more expensive.
Your Two Exit Routes
Which one fits depends on whether you have equity and how fast you need to move.
Option A
Cash Sale
We pay cash, satisfy your mortgage in full at closing, and you walk away with whatever equity is left over. No agent fees, no closing costs, no repairs. Two to three weeks to close.
Best when: you have equity, you'd rather take a check and move on, and the next chapter is renting or moving to a smaller place.
Option B
Mortgage Takeover
We buy the home and continue making your mortgage payments. The loan stays current, your credit keeps reporting on time, and you're done with the house — without writing a check at closing for closing costs or a short equity position.
Best when: you have little or no equity, you want to keep your credit clean, and you'd rather have a few weeks to wind down than navigate a months-long workout.
How the takeover works →"My husband passed and the math fell apart fast. The insurance check helped but the mortgage was always a two-income payment. I was three months from emptying my savings and I'd already started missing things. Pallas came in, took over the payments, and gave me back a year of breathing room I'd otherwise have spent fighting with the bank."
Linda P.
Essex County, NJ
Frequently Asked Questions
What if I'm not actually behind yet — should I wait until I am?
No. Acting before you're behind is the strongest position. Your credit is intact, your options are wider, and your lender hasn't started any collection process. The homeowners who get the cleanest exits call us when they see the bad month coming, not after it's already arrived.
I just need a few months of breathing room — can you help with that instead of selling?
If the underlying problem is genuinely temporary — a between-jobs gap of 60 days, a one-time medical event — then a lender forbearance might be enough. If the structural math has changed (lower income, higher payment, new family expense that isn't going away), kicking the can usually makes the eventual problem bigger. We'll give you a straight read on which one you're in.
Can I get out without selling at all?
Renting it out is an option if the math works — but most affordability problems also break the rental math, because your mortgage and escrow are higher than the local rent ceiling. If you've already done that math, you usually know.
What's the credit impact compared to letting the house go?
Selling before falling behind: minimal impact. Selling after a few late payments: those late payments stay on your report for up to seven years, but no foreclosure event. Letting foreclosure happen: an 85–160 point drop, a three-to-seven year FHA loan waiting period, and a record landlords pull when you try to rent. The earlier you act, the smaller the footprint.
Get Ahead of It
A 10-minute conversation tells you which exit fits and what a written offer would look like. Confidential, no pressure, no obligation.