The percentage of Americans going into foreclosure is increasing dramatically. If you are headed to a foreclosure don't be embarrassed. There are millions of Americans in the same situation. Most homeowners who are facing foreclosure often avoid dealing with the facts that got them into the situation. Few homeowners actually planned to go into foreclosure. There are many reasons a situation for this can arise.

• Job loss / unexpected unemployment
• Sudden illness or medical emergency
• Death in the family
• Divorce / loss of second income
• Inability to pay an adjustable interest rate that increases

Here are steps to avoid going into foreclosure:

1. Don't ignore the problem.

Clearly the further behind you get the harder it is to catch up. Normally the lender will start requiring larger and larger lump sum payments. Eventually they will be so large you'll never catch up.

1. Contact your lender as soon as you realize that you have a problem.

Lenders do not want your house. They have options for people in duress. Lenders will often spread out payments and work with you to avoid the foreclosure.

1. Open and respond to all mail from your lender.

Although you know the information will be unpleasant don't ignore it.

1. Know your mortgage rights.

Learn about the foreclosure laws and timeframes in your state by contacting the State Government Housing Office.

1. Understand foreclosure prevention options.

Talk to your lender about loss mitigation.

1. Prioritize your spending.

Eliminate anything that is unnecessary. For example the premium cable channels. Delay payments on credit cards and other "unsecured" debt until you have paid your mortgage.

1. Use your assets.

It may be tough but saving your house over keeping sellable things is a wise decision. It is a lot easier to replace items than a house.

1. Sell Your Home.

Interview real estate agents and find the best one for you. Discount brokers may not be the way to go. Make sure you check your options.

1. Consider a Short Sale.

If your home is worth less than the amount you owe, you might be a candidate for a short sale. Basically the lender will be forgiving the extra loan amount as compared to the actual value of the house.

1. Sign a Deed-in-Lieu of Foreclosure

This is deeding the home back to the lender. The lender forgives the mortgage, effectively canceling the foreclosure action. This may adversely impact your credit on the same level as a foreclosure.

The foreclosure process is painful but you can avoid it altogether if you keep the lines of communication open with your lender. At times this may be difficult but you need to deal with the situation or the situation will deal with you. Don't let things get out of control if you can help it.

Erik Birkeland writes on business and family related issues. You can learn more by visiting my blog,Stop The Foreclosure Process http://www.foreclosure.wolfmediaonline.com

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