The recession has caused high unemployment rates, hard working citizens attempting to hold on to the "American Dream" are currently faced with the possibility of losing their home. According to estimates, 1 out of every 200 homes will be foreclosed on. With any passing day a family some where is seeking plausible solutions to save their home. When it comes to foreclosure, one of the major errors that people make is neglecting to openly discuss with their lender their happenstance.

Sadly, homeowners often wait too late to try to bargain a deal to save their home. The smart thing to do is to educate yourself on the options available.

Fortunately, there are a number of different ways to actually prevent foreclosure from occurring.

Here is a fact, lenders are not in the business of owning anyone's home. It is important to realize and understand that lenders don't like to see homes to go into foreclosure.

Lenders are in the business of lending money and hence would choose to have mortgage loans paid. As such, most lenders are actually eager to work with homeowners to structure a repayment plan to keep people in their homes if and when possible.

1. Lower Your Monthly Mortgage Payments

2. Modify Your Loan

3. Short Sale Your House

4. Delay Your Mortgage Payment

The above mentioned are just a few options that may be possible, confirm with your lender and/or seek legal help from a loan modification attorney to attempt to work something out to prevent foreclosure. Some people believe that it will cost them nothing to just give up their home and let it go into foreclosure. The fact is foreclosure will involve money and will negatively affect your credit. Is it worth it? No. Avoid Foreclosure.