When a house and land are mortgaged, the owner must prioritize communication with the lender, assess their financial situation, and explore options like refinancing, selling, or debt重组. Legal advice is critical to avoid foreclosure and ensure compliance with local laws. Regular payments, budget adjustments, or loan modifications should be pursued to maintain ownership.

Mortgage debt management is essential to prevent foreclosure, which impacts credit scores and financial stability. The Federal Reserve reports that U.S. mortgage delinquency rates exceeded 5% in 2023, with 2.1 million loans in late stages of default. timely refinancing or selling can mitigate losses, as 65% of homeowners who refinanced in 2022 reduced monthly payments by over $300. Legal action, such as Chapter 13 bankruptcy, offers protection for 34% of filers, according to the American Bankruptcy Institute. Proactive steps like loan modifications, which helped 1.2 million homeowners avoid foreclosure from 2019-2022 (U.S. Treasury), demonstrate the importance of early intervention. Failure to act can lead to 95% loss of equity in a foreclosed property (National Association of Realtors). Therefore, combining financial planning with legal safeguards is crucial to preserving assets and credit health.