After 270 days you are now in “default” and that's when it gets hairy. Your lender will put you in “collections,” which basically means that an agency will constantly call you and send you threatening letters to try to collect money.
3. Take away your social security retirement and disability payments — up to 15% 4. Take away lottery winnings 5. Deny you an FHA or VA mortgage 6. Prevent you from renewing your professional license