Posted by Shambhu Nath on September 07, 2003 at 17:52:51:
First of all; selling house has nothing do with mortgage late payments as the buyer gets new mortgage and pays off the old mortgage at closing.
Your option is to call the mortgage lender directly and explain them the situation and negotiate but they do for you. They might give you some more time and lump sump the interest in mortgage.
If you get new mortgage, you will be in same situation unless you can get more than current loan and use the cash out from house for payment till you get another job.
You may also try a home equity option although that may also be hard to get when credit is bad. The best option is to have equity open before mortgaes are late than use is when needed.
You can also try some subprime lenders who can offer you loan but at higher interest. You might also want to try to borrow from family member if that is an option. You current lender may be the best shot.