If you can’t afford the higher payments, it’s best to contact your lender as soon as possible. You should be prepared to discuss your financial situation, income and the reasons why you are unable to afford the increased payments. With this information, your lender can let you know what your options are. In some cases, you may be able to remedy the issue by refinancing and locking in a fixed interest rate. There may be other options as well, depending on the type of loan you have.