There are many reasons why you may be having trouble paying your mortgage, from a loss of your job to illness to a reset in an adjustable-rate mortgage. Whatever the reason, there are ways to avoid foreclosure in this situation. Here are a few tips to help you out if you find yourself in a possible foreclosure situation.

The first thing to do is contact your lender. It is cheaper for your lender to work something out with you than to foreclose on your house and they have options available for this situation. These options include:
•    Forbearance, which is a temporary agreement that lets you pay less on your mortgage for a certain period of time,
•    Reinstatement, which allows you to pay the total amount you are behind by a set date,
•    A repayment plan, that allows you to combine the amount you’re past due with your regular payments to catch up, or
•    A loan modification, which permanently changes your original terms to make your payments more affordable.

Also, be aware of predatory lending schemes at this time. They will often try to use your panic to get you into high-cost mortgages. Be wary of anyone that offers you “bargain loans” and offers that are good for only a short time.

If you are still unable to make your mortgage payments try other steps such as talking to a housing counseling agent or a government agency to see if you qualify for help.