The subprime Home Financing mess has been on the tip of everybody's tongue lately, and the  property market has cooled. Rather then staying out of the market, smart investors realize that this is the time for deals to be had. We're in a buyer's market, which is an enormous relief for buyers who have watched the market balloon over the last decade. But what if you are one of the thousands of people who got caught up in the low-interest madness, thinking you'd be able to make enough money to cover the difference when your rates reset?

If you are facing difficulties with your Home Loan ,remember that the ultimate goal is to maintain your credit rating. You may be able to negotiate with your lender, you may be able to modify the loan or you may be forced to offer up for sale your home now in order to buy one in the future, but the sooner you do something about the issue the more options you will have. By getting your financial situation in order you will be able to get on with your life sooner. Don't add to your stress by refusing to think about your fiscal situation; follow these steps to getting back on solid footing:

Know the details – go over all your Home Mortgage documents so that you are prepared for any future resets or changes. When will your payments increase? By what amount? Can you refinance? What kind of penalty would you face, if any? Think creatively- can you rent a room or get a part-time job to help make your payments? You may need to look at major reduction in your spending and activities. Do not buy any new "stuff" at this time, and look at selling other stuff, such as automobiles or boats, to help pay the bills.

Beware of foreclosure "rescue" rackets – There are a number of con artists targeting people in areas where the number of foreclosure filings have been high. These cons will approach desperate homeowners with offers to assist them keep their homes. These "foreclosure help" often come with payments that higher than the current payments and result in homeowners being defrauded of their homes, most of the time still owing the original mortgage amount. Any company that approaches you with such an offer should be checked out through the state attorney's general office, and your state real estate commission. Do not sign anything without reading it all, get all offers in writing and ask your attorney or a expert in the mortgage industry to review any paperwork before you sign it.

Call any not for profit agency offering free housing advice for more information and counseling. They may be able to help you with your options. If you have a loan between Jan. 1 2005 and July 30, 2007, are current on your loan payments and your mortgage has not yet reset to a higher rate recently passed law allows you to be eligible for a five year rate freeze.

Contact your Mortgage Loan lender – You should take the initial step with your Home Mortgage lender. Contact them before the situation becomes overwhelming. If you receive calls or letters from your Home Loan lender respond to them as early as you can. Do not wait to get too far behind – Mortgage lenders are less likely to file the paperwork for foreclosure if you are proactive. You want to speak to the right people – ask for the loss mitigation or collections department. Be honest with them about your situation and don't promise what you can't do.

If all else fails, call the lender and ask for a short sale - if you have missed more than two payments but your home has not yet gone into foreclosure you may be able to sell it for a price that is less than what you owe the lender. If your mortgage company agrees to ok the price and deduct the rest of your debt, they avoid the costly foreclosure process and you walk away with minimal damage to your credit score. to You can chalk it up to experience, save up a down payment and buy low.