The best way to stop foreclosure is to start before the lending company begins the foreclosure process. Once the process begins you will have a much harder time in saving your home unless you can come up with the entire loan amount.

The first thing you should do if you know you are going to have problems paying your mortgage payment due to illness, lost employment, or that the mortgage payment has gone up due to interest rates, or other reasons is talk with your lending company. In many cases, the lending company would much rather see you avoid your payments than have property to sell.

Talk over all the options that are available such as a refinance loan or even a deferred payment plan in case of accident or injury that has caused you or the main provider to be out of work for a short period of time.

If you see no way out of this situation, you can sell your home and at least save your credit. The worst part is you may have to sell your home for what you owe and you will not receive any equity. The best way is to try to sell your home for a bit over what you owe, so you can use that money as a down payment for a new home that is more affordable. This will only work if you are not behind in your mortgage payments.