"Show me the money!"

In the blockbuster film "Jerry Maguire", Jerry (played by Tom Cruise) is forced to scream that line at the top of his lungs over the telephone to Rod Tidwell (played by Cuba Gooding Jr.) in order to keep him as a client.

If you're facing foreclosure, you know by now that's exactly what your lender is screaming as well. While they probably won't dance around in their underwear the way Tidwell did (or so I'm told), they are pretty strident in their insistence about being paid. They really don't care where it comes from or what you have to do to get it, but they want it. And they'd much rather have it sooner than later.

The downside for you is that reinstatement of your loan involves catching up your missed payments and associated late fees in one lump sum payment. If the available balance in your checking account isn't enough to cover a bad check fee, you've got a serious problem. However, in certain situations - and as a last resort - your friendly banker might be willing to let you catch your payments up over a short period of time.

If your reason for being late is due to something beyond your control - for instance, if you were injured trying to escape from drunken monkeys putting on an exhibition at your brother-in-law's bachelor party - they might be willing to consider a repayment plan to give you time to catch up your missed payments.

If you don't have the means to pony up all the cash at once, it's possible you might be able to sweet talk your lender into letting you split your missed payments into several bite-sized chunks. In order to qualify for a short term repayment plan to gain reinstatement of your mortgage loan, you're going to have to jump through some hoops in order to get your lender's attention. By no means is this arrangement a slam dunk; you're going to have to convince your lender to approve your request.

In order to qualify for a repayment plan, you're going to have to pick up the phone and call your lender. It may be somewhat difficult to get in touch with someone with the authority to grant your request and it could be a time-consuming process.

Part of this process is likely to include a careful examination of what led to your being late in the first place. They aren't likely to agree a repayment plan if they suspect lateness is going to be the new "normal". As I've stated previously, your lender wants their money. If you can convince them that you aren't likely to be accosted by monkeys in the future, they could agree to your suggestion of a repayment plan. If they do, though, be forewarned: It's not likely that your lender will be at all sympathetic to your situation if you ever fall behind on your payments at some point in the future.

When you fall behind with your mortgage payments, you're an emotional basket case. Your lender is constantly calling asking you for money that you don't have, and before long you've lost the ability to think rationally about the best course of action for you. You obviously want the calls stopped, so you tend to lose sight of what's in your best interest. You have emotional reasons for wanting to reinstate your loan, even if a repayment plan may be unsuccessful. You're carrying a lot of emotional baggage - financial concerns and memories of special occasions in your home - that can make it difficult to think clearly.

Instead of making a deal you might be unable to keep, you should first call someone who might be able to help considerably. A trained real estate professional doesn't stand to profit from your agreement with your lender - and they don't have your emotional attachment to your property. What they do bring to the table is a wealth of practical knowledge that can help you to objectively look at your situation and make an unbiased recommendation about what you should do. Their experience is invaluable and the advice is free. Instead of rolling the dice and hoping against hope that your financial gamble at repayment will succeed, pick up the phone and make a call that has a greater chance of success. Call a trained real estate professional for advice you can bank on.