As with many government intervention programs, it seems the best way for the government to kill a fly is with a sledgehammer. By this statement, I am not implying that the current state of the housing market is insignificant; quite the opposite. The purpose of this article is to point out, yet again, that the government will not ride in on a white horse and save you from foreclosure, nor should they. The more we depend on the government to bail us out of our problems, the more they are guaranteed to disappoint.

According to the associated press, Secretary of the Treasury Henry Paulson said today that various proposals being put forth to deal with the U.S. Housing crisis will do more harm than good. He went on to say that while the housing correction remains the biggest downside threat to the economy, but it should be kept in perspective. Currently, 93% of all mortgages are being paid on time, with less than 2% are in foreclosure.

To the untrained eye, these statistics show a relatively low percentage of home owners throughout the country are in trouble, but it doesn't help the way that you feel if you happen to be one of them. So what do you do next if you happen to be part of that 7% of American home owners that are either in foreclosure, or in default?

The answer is, do something. Many people in this position are so crippled with fear of the unknown and the emotional stress of the situation that they fail to do anything to help to recover. Before long, the home has been foreclosed, and you are left wondering what happened when the dust clears and you discover that the damage to you financially is devastating and long lasting. There are options that should be considered and pursued.

In order to avoid foreclosure, you must identify the problem that placed you there. If it is a short term financial crisis that has since been solved, your best course of action may be to contact your mortgage company and work out a re-structuring of your loan. This won't always work, but it is a good place to start.

If your troubles have not corrected themselves, and your financial difficulties are longer lasting, you will need to sell the property or be forced into foreclosure. In many situations such as this, the home may not have enough equity to sell without coming out of pocket with money to cover closing costs, fees, and the remainder of the mortgage balance. If this is the case, the best option, most likely, will be a short sale. A short sale is defined by the acceptance of less than the outstanding balance from the mortgage company as payment in full in order to avoid foreclosure. Many times this option is best for the home owner and the mortgage company because a foreclosure is more costly for the mortgage company, and can be devastating for the home owner.

For more about this topic and options available, go to www.PreForeclosureFSBO.com.

More info on your stop foreclosure information search:

Get Free Foreclosure Advice and Free Refinance Quotes
Get your free on-line foreclosure refinance quote and free advice from foreclosure mitigation specialist in minutes. Compare real offers from top national subprime and hard money lenders... more...

Foreclosure Victims Helping Foreclosure Victims
A number of the homeowners that we talk to everyday are motivated by two main goals. The first, obviously, is to save their home from foreclosure, avoid potential scams, and get their financial lives back to normal. Teaching homeowners how to do each of these is the main purpose of our website, ... more...

Master The Mechanics Of Foreclosure - The Key To Being Effective In Pre-Foreclosure Investing
To confidently compete in the pre-foreclosure arena, every investor must master the mechanics of foreclosure. The events of foreclosure, the timeframes, the disposition of the proceeds of sale, and the effects of the sale ? these are all important landmarks in navigating through the foreclosure ... more...

Summary Of Vermont State Foreclosure Law
There are four different type of foreclosure are followed in Vermont. Strict foreclosure Power of sale foreclosure Judicial foreclosure Non-Judicial foreclosure What is the processing period for foreclosure in Vermont? Processing period is normally 210 days (Approximately 7 months) in Vermont. Is ... more...

Home Forclosure Help
9 tips for home foreclosure help Here outlined for you are nine things you can do if you want or need home foreclosure help. Home Foreclosure Help Tip #1. Make sure you have in place a Home Equity Line of Credit. For this home foreclosure help tip remember that if something comes up forcing you to ... more...