The costs of everyday living are growing for many Americans. For some, that means falling behind on mortgage payments.

The number of mortgages in delinquency ticked upward in February, according to a monthly report from Intercontinental Exchange. While nonpayments remain below national levels before the COVID-19 pandemic, there's also been a sharp rise in "severely delinquent" loans or those in foreclosure over the past four months. Federal Housing Authority loans in particular, which require lower down payments, closing costs and qualifying credit scores, made up more than 80% of that jump in nonpayments.

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Delinquencies and foreclosures briefly spiked due to the economic uncertainty of the pandemic, though extensive relief programs helped bring those nonpayment rates sharply down, said Kate Wood, lending expert at NerdWallet. In general, experts don't see current delinquency rates as cause for alarm.

"That said, being unable to pay your mortgage, struggling to pay that bill, feeling the threat of foreclosure is incredibly stressful," Wood said.

If you find yourself approaching that financial uncertainty, here's what experts say you should do.

Your first step: Call your mortgage servicer

Loans become delinquent when borrowers are unable to make their monthly payment. After 90 days of missed payments, loans are considered in serious delinquency and in danger of default. After 120 days of nonpayment, lenders can begin the foreclosure process.

The most important thing you can do is contact your loan servicer if you're worried about missing a payment.

The sooner you reach out, the more options you'll have available, experts said.

"The biggest mistake that homeowners can make is to wait, because your options are very often time sensitive," said Jennifer Fraser, director of stakeholder engagement and grants at GreenPath Financial Wellness.

If you're going to miss a payment, or you need immediate assistance in engaging with your mortgage, your servicer should be your No. 1 call, she added.

Before talking to your servicer, Wood said, spend some time preparing.

• Check your servicer's website for a mortgage assistance page, which includes information on how to get in touch with the right people to discuss your situation.
• Gather the documents you'll need to have an honest conversation about your finances.
• That likely includes your mortgage information, such as the loan amount and monthly payment, and details about your current income and expenses.

"The biggest thing you're going to want to have is why you believe you are having difficulty paying your mortgage," Wood said. "This is something that can be uncomfortable to talk through or to provide, but essentially your servicer is going to want to see something that they can call your 'documentation of hardship.'"

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That could be proof of a major medical issue, job loss, a death — something to help your servicer understand whether you're dealing with a temporary setback or a more permanent change.

"Being honest is the best way to ensure that you get back on track," said David Dworkin, president and CEO of the National Housing Conference.

Another key tip: Move to writing or email as soon as possible, Dworkin added. Keep detailed notes, including names and reference numbers, for every phone call.

"People will make a commitment, and then you'll talk to somebody else the next time you call, and they don't have a record of that commitment," he said. "It doesn't necessarily mean that the lender is doing anything nefarious, but this process can be sloppy."

OK, you've reached out. What are your options now?

The good news is that most people who are 30 — or even 60 — days late are able to get back on track, Dworkin said.

"There are ways that a lender can help you because they don't want to foreclose," he said. "It costs them a lot of money to foreclose. It actually costs them a lot of money to keep calling you. You share an interest with them in getting back on your payment schedule."

If a borrower has missed a bill or two but has the capacity to pick payments back up, lenders can put those missing months on the back end of the loan.

Your servicer also might offer you a temporary forbearance, Wood said. Expect three months. Six months would be pretty generous, she said.

During that time, you won't have to pay and you won't be considered delinquent, but interest will continue to accrue. Pay close attention to the terms of your forbearance agreement, she said, because in some cases lenders expect a lump sum totaling the unpaid months all at once, plus the current mortgage payment.

In the event of a more permanent life change, like a major disability or a death in the family, you may want to ask for a loan modification, Wood said. That's where you and your servicer agree to a change in the terms of your loan to make payments more affordable, such as extending the length of the loan.

Not every situation will have a viable solution. In that case, it's important to be realistic about your financial options, the experts said.

You just can't afford your mortgage. What happens now?

Once you've hit three months of nonpayment, your lender can send you a notice giving you 30 days to get back in good standing, Wood said.

Often called a notice of acceleration, the letter would then require you to make up not only what you've missed, but the entire loan balance. At this point, Wood said, borrowers are in pre-foreclosure.

"Unless you have a windfall, unless you are able to get funds to be able to bring that loan current, you're likely looking at giving up the home," she said.

Even then, you still have agency, she said. Now is the time to make choices that are most beneficial to you and your family.

Experts PBS News spoke with said that borrowers could end up above water by selling their house if they have equity in the property and if it is worth more than what they owe.

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Telling the servicer you're selling the house allows you to protect your credit rating, Dworkin said. It can also give you a mental break from the pressure of collection calls, and, in the end, will hopefully result in some cash that can be used for rent while working toward greater financial solvency, he added.

"As hard as it is to sell your home, especially if you have kids in school, it is so much worse to lose it to foreclosure. There is no comparison," Dworkin said.

You may have other options, Wood said, such as a deed in lieu of foreclosure, or a less desirable choice such as a short sale, which is when what's owed on the mortgage is more than what the home is worth.

Until your loan is in default, "this is still a window where you absolutely can reach out to the lender and try to work something out," Wood said.

There are also many free counseling options available if you need support, Fraser said, whether you're realizing you may struggle to pay your mortgage or you're facing foreclosure.

"If it's keeping you up at night, take action," she said.

"There's always a good opportunity to have somebody who's nonjudgmental listen to you and explain your options — or if you are farther down and delinquent, and you may be looking at foreclosure, help you understand what the foreclosure laws or timelines or requirements are in your state, so you're not facing that unknown."