Has it come to the point where you have asked yourself "How can I avoid foreclosure to save my home?" Don't feel alone. There are millions of Americans today facing the same problem.

If you are at this crisis in your life, I know you don't have much time to spend on reading. So we will get straight to the steps you need to save your home.

Step 1: Never avoid the situation. If you avoid making your full house payments, it will catch up with you within 3 months. If you put off the situation and hope it will get better you are only wasting valuable time. As you will see below, every day you are active in getting the situation resolved the easier it will be to avoid any foreclosure of your home.

Step 2: Contact your lender as soon as you know you have a problem.

You may not want to contact your lender because of embarrassment. It is natural to feel this way. It is not going to be on of those fun conversations to have, but avoiding the situation will only cause you more problems in very near future. Lenders don't want to start foreclosure proceedings on you home because of all the expenses involved (court fees, attorney fees, etc.). They would much rather discuss a modified repayment plan. If you don't feel comfortable talking with the lender then you should look into getting a foreclosure specialist to help with the process.

Step 3: Gather all your financial documents. You will need to have your loan number, a month's worth of your most recent paycheck stubs, a list of all your credit card debt, hospital bills etc. You should sit down and create a budget showing your income and expenses for a whole month. You should also prioritize your spending. Cut out the things you don't need, like cable, internet access, etc. The budget will show the lender you have already done some of your homework on how to work out a solution.

Step 4: Respond to any mail or phone calls you receive from your lender. This step is very important. You don't want the lender to think you are trying to avoid the situation. At this point you want to be very cooperative.

Step 5: Know your rights as a borrower. You should find your loan documents and read them. They will tell you what the lender can do if you are unable to make your payments.

Step 6: Determine how much you have in assets. Do you have some jewelry or a second car that you can sell? You may even have a life insurance policy you can cash in. Although these may not increase your cash flow, it will demonstrate to the lender that you are willing to make sacrifices.

Step 7: If you have gotten to this point and don't feel you are able to resolve the situation then you should seek the help of a professional foreclosure counselor. There are many companies that offer free consultations. You are not obligated to use their services, but you can definitely find the answer to your question of "How can I avoid foreclosure?" These professionals have many contacts in the banking market and can often times offer solutions you may not be able to find on your own.

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