My husband left active duty military and went back to the reserves. We took a 3,000 dollar a month paycut and are having trouble making our mortgage payments. We’ve had the house for 2 years and it’s a VA loan. Are there any mortgage payment assistant programs to people like us here in Colorado? We are trying to avoid foreclosure at all costs. If we could get help with the payments until it sells (houses aren’t selling in our neighborhood right now) we could avoid a big headache for us in the future. Anywhere we can turn to?

It depends on how late the mortgage went. Many lenders look at a 90 or 120 day late as a foreclosure and treat it the same whether you sold the house or not. On the other hand if you avoid foreclosure you are going to be better off, the bank can come back on you after they sell the home and get a deficienccy judgement against you for the difference between the selling price and what you owe on it with the cost of the sale as well. You may have to wait a year or two if you are looking for zero down. If you have money to put down you may be able to do it right away but the rrates are going to be less then favorable.