A borrower generally has a right to reinstate a delinquent loan by paying all missed payments, as well as the lender’s fees and costs related to the delinquency. Even if the payment on the mortgage is now affordable because the borrower has regained the ability to pay (or the hardship has now passed), most homeowners in default lack the funds to reinstate. Borrowers seeking reinstatement may be eligible for a gap loan or grant programs.

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