If your home is in dangerous of foreclosure, there may still be ways of stopping foreclosure proceedings if you utilize one of several workarounds.

• Reinstatement is one such way of stopping foreclosure. You can often negotiate with your lendor, even if you have months of delayed payments, as long as you can provide a lump sum payment.
  

This sum is generally a bit less than the total amount you owe from previous months. Reinstatement brings your debts up to current, thereby stopping foreclosure of your home.

• Forbearance is another approach to stopping foreclosure.  This process temporarily delays you having to make any payments, if you are having trouble making payments.  Forbearance is sometimes used in conjunction with reinstatement (described above), along with agreed-upon date wherein you will be required to start paying again.

• Mortgage modification is an approach that looks for a longer term solution to save your home from foreclosure.  Working closely with your creditor, you can set up changes to your payment schedule and amounts, to help spread out the cost of mortgage payments in smaller installments over a longer period of time.   You may simultaneiously enjoy lower interest rates following a mortgage modification.
  

Keep in mind that banks and other mortgage lenders do not want to own your home.  They are not equipped to be homeowners, do not enjoy having the expense and trouble of having to find a way to sell a house, and are therefore interested in helping you to keep your home, so they don't have to.  Because of this, on your home creditors will be more than willing to find a way of stopping foreclosure on your home,.if at all possible. 

Therefore, you shouldn't dodge contact with your lender, but instead communicate frequently andbe  honestly and reasonable in discussing your financial situation.  At all times, you should provide your creditor with all relevant information about whatever income you are receiving and whatever expenses you normally have each month.

When dealing with your bank, lender, or creditors, it's crucial that you always be upfront about your capability (or lack thereof) to pay what you currently owe them. In fact, it may work to your benefit if you step up and tell them as soon as you're aware that you aren't going to be able to pay when a deadline arrives.

Although nearly everyone is interested in both stopping foreclosure and keeping their current home, the truth is that if you inadvertantly purchased more home than you can really afford, you may be better off selling the property and paying off your loan. Whereas a foreclosed home will negatively impact your credit report, selling your home and moving to a less expensive one can save your credit, your pride, and your future ability to get credit for many reasons.