Call or Text 574-574-MATT to get a cash offer on your house!
Find Out What You Owe — And What You Could Keep
Use our free Mortgage Payoff Calculator to instantly estimate your remaining loan balance, future interest costs, and how much equity you could walk away with if you sold today. Designed for Indiana homeowners — especially in South Bend, Mishawaka, Elkhart, and surrounding areas — this tool helps you make smarter decisions when you’re behind on payments or just ready for a fresh start.
Whether you’re one payment behind or facing foreclosure, knowing your numbers is the first step toward getting back in control.
Check Your Mortgage!
Disclaimer: Submitting this form implies acceptance of our Privacy Policy. You agree to be contacted by Matt Buys Indiana Houses LLC via phone, text, and email about your real estate interests, potentially varying frequency, charges may apply. Reach (574) 601-3340 for help. Text STOP to quit.
Depending on your input, this tool will tell you:
If you’re underwater on your mortgage — where you owe more than your home is worth — the calculator will flag that and suggest your next steps.
For example, a homeowner with a $180,000 mortgage balance and a $150,000 property value would be shown as negative equity (“underwater”). In that case, the tool may recommend contacting a buyer or negotiating with the lender.
A simple bar chart comparing Mortgage Balance vs. Estimated Property Value
| Scenario | Mortgage Balance | Property Value | Equity |
|---|---|---|---|
| Standard Equity | $120,000 | $150,000 | +$30,000 |
| Underwater | $180,000 | $150,000 | -$30,000 |
| Break Even | $150,000 | $150,000 | $0 |
Being underwater means your mortgage balance is greater than your home’s market value. That can make selling or refinancing hard — and it’s one of the biggest reasons people fall into foreclosure.
In Indiana, this happens more often than you’d think. According to Zillow data, certain neighborhoods in South Bend, Elkhart, and Gary have seen price declines of 5–10% in the last two years. If your home lost value, and you’ve missed payments, your risk goes up.
That’s why knowing your numbers now — not later — is so critical.
In Indiana, most lenders begin the foreclosure process after 90 days — that’s three missed payments. But in reality, the clock starts the day you miss even one.
Every missed payment increases your total payoff and reduces your equity. If you’re on your second or third missed payment, you may still have time to sell before foreclosure is finalized.
💡 Tip: If you’re within 30–90 days behind, selling now could preserve your equity and stop the foreclosure clock.
If you’re behind on your mortgage in South Bend, Mishawaka, Elkhart, or anywhere in Indiana, here’s how to stop foreclosure before it hits your credit and your future:
1
Call your lender and explain your hardship — ask about forbearance or repayment options
2
Check your equity with our calculator above — this tells you if selling is a realistic escape
3
Explore state and local mortgage assistance programs (see below)
4
Get a no-obligation cash offer to sell your home before the bank takes it
Foreclosure can ruin your credit for years. But if you act early, you may have more options than you think.
| Stage | Timeline (Days) | Action You Can Take |
|---|---|---|
| 1 Missed Payment | 1–30 days | Call lender, catch up |
| 2 Missed Payments | 31–60 days | Ask for hardship relief |
| 3 Missed Payments | 61–90 days | Pre-foreclosure warning |
| Foreclosure Filing | ~90+ days | Sell now or enter court |
| Sheriff’s Sale Date | 120–180 days | Last chance to act fast |
🛑 Don’t wait for the sheriff’s notice. The sooner you act, the more money and control you keep.
Many Indiana homeowners are surprised to learn they can sell even if their mortgage isn’t fully paid off. In fact, it’s incredibly common — especially in places like South Bend and Elkhart where home values fluctuate.
If you’re unsure how much you owe, use the calculator at the top of this page to get a fast estimate.
✅ Example: Your home sells for $160,000. You owe $130,000. You keep the $30,000 equity, minus any closing costs.
Selling can be a powerful financial reset — especially if your monthly payments are unsustainable.
The full process can take 120 to 180 days from the first missed payment to auction — but the exact time varies by county and court backlog.
Knowing this timeline gives you the window to act fast — especially if you’re in early-stage default.
If you’ve already received a sheriff sale notice in places like Mishawaka or Elkhart, time is critical. You still have options:
We work with homeowners even 1–2 weeks before their scheduled sale. If you need to sell quickly, we can help.
In many cases, it’s not just about the mortgage — it’s about buying back peace of mind. Homeowners in Elkhart, South Bend, and beyond have used the proceeds from a quick sale to settle debt and start fresh.
You don’t need to fix up your house or wait for a traditional buyer. We purchase homes as-is, in any condition.
These resources are helpful, but many have long processing times or limited funding. If your foreclosure date is near, selling may be the faster solution.
Yes. You can sell your home even if you’ve missed one or more payments. In fact, selling before the foreclosure process starts can help you avoid credit damage and legal costs.
If you’re “underwater,” some buyers (like Matt Buys Indiana Houses) may still make an offer. You may also be able to negotiate a short sale with your lender to avoid foreclosure.
Typically, the foreclosure process takes 120 to 180 days from the first missed payment. However, it varies depending on court schedules and lender action.
Yes — if your home sells for more than what you owe, the leftover amount (your equity) is yours after closing costs. Use our calculator above to see an estimate.
No. We buy houses as-is in South Bend, Elkhart, Mishawaka, and across Indiana. You don’t need to clean, repair, or stage your home.
You’re not alone — thousands of Indiana homeowners face this same situation every year.
Use our Mortgage Payoff Calculator above to see your equity, then choose the best option for your financial future.
Whether you need to stop foreclosure, avoid a sheriff’s sale, or just want out of a high-interest loan, we’re here to help. Matt Buys Indiana Houses serves South Bend, Elkhart, Mishawaka, and nearby cities with fast, fair cash offers.
