Notice of Default: two more options that may help create breathing room

Receiving a Notice of Default can feel like everything is closing in at once. That’s why understanding your options early is so important.

This is Part 2 of a series designed to support homeowners by walking through possible paths — without pressure and without assumptions.

Option One: Could Leasing the Home Work?

In some situations, turning a property into a rental may help cover the mortgage payment or reduce the monthly burden.

The first step is clarity:

• What would the home realistically lease for?

• Would rental income meaningfully help?

• Could this buy time while working with the lender?

I can run rental comps and help evaluate whether this option makes sense. If it does, communication with the lender is key — letting them know you’re actively working toward a solution and asking for time to catch up.

Option Two: Bringing in a Trusted Investor

Another option some homeowners consider is asking a family member or friend to invest in the property.

This might look like:

• Receiving funds to get the loan current

• Offering a share of the property in return

• Creating flexibility without selling immediately

This approach isn’t right for everyone, but for some, it opens doors that weren’t obvious at first.

The Bigger Picture

A Notice of Default is not the end of the road. It’s a signal to pause, assess, and explore options thoughtfully.

I'm here to help you feel informed and supported — not rushed into decisions.

See the YouTube Video Here >>> Notice of Default Options Video #2 👇🏻

Patti Gregory Realtor
Your Partner in Success

714.398.1998
REAL Brokerage
DRE 01182154