Start here
Rate Your Credit	Select Excellent Good Fair Needs Improvement Poor	(Estimate ok)
Mortgage Amount	Select $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000+	(Estimate ok)
Payment Status	Select Current About to Fall Behind 31+ Days Behind 61+ Days Behind
Property Value	Select $50,000 $100,000 $150,000 $200,000 $250,000 $300,000fs $350,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000+	(Estimate ok)
	**

Foreclosure is the legal procedure through which a lender takes ownership of a property they have financed from the borrower who is in default of payment.

In order to stop foreclosure, the first thing you need to do is stop avoiding the process. When people fall behind on their mortgage payments, more often than not they quickly turn to avoidance. Foreclosure is easier to prevent before the formal process is initiated by a bank. Although different states have different laws and regulations governing foreclosure, one thing is common, it starts with a “Notice of Default”. Foreclosures don't happen without a notice. Mortgage lenders and banks typically allow the homeowner to catch up on the mortgage payment; homeowners are usually given three months to rectify the problem.

After the third payment is missed, the borrower will receive a letter from a lender stating the amount is delinquent, and that there are 30 days to bring a mortgage current. This is called a "Demand Letter" or "Notice to Accelerate". If homeowner does not pay the specified amount or make some type of arrangements by the given date, the lender may begin foreclosure proceedings.

The best way to stop foreclosure is to prevent it using loss mitigation.

Loss mitigation is the process of trying to stop a home foreclosure before it occurs. The loss mitigation process is often better handled by a third party due to their experience and the ability to deal with the lending company without a personal attachment to the situation. There are several options when it comes to loss mitigation and the main focus should be to keep the home owner in their home. Loan modification, short refinance and forbearance are the main options to be used to save a house.

If that does not seem like a realistic outcome, every attempt should be made to help the home owner get the most for their home as they possibly can before a foreclosure sale takes place. This may include deed-in-lieu of foreclosure or a short sale if a qualified purchaser can be found.