Have you ever received a letter threatening foreclosure from your bank in the mail because you missed several mortgage payments? If so, you probably know the sinking feeling that comes with it. Am I about to lose my home? How did this come about? While foreclosures have become commonplace, the process is still mostly unknown and overwhelming for most homeowners. But don’t you allow the fear of losing your home to avoid asking the most critical question: can I escape forklifts and save my house?

If you want to stay at home, ask your lender about your options first. The sooner the problem is dealt with, the easier it is. You don’t have to wait to make a payment. Speak to somebody as soon as the financial situation changes. If you are unwilling to talk to your lender, contact a financial consultant, a housing representative, or even a lawyer.

And watch out for foreclosure fraud. Don’t pay for your company or government resources’ advice or services will give you free of charge. In particular, don’t sign something that you haven’t read or understood. Scammers have compromised insecurity and anxiety about foreclosure.

In the event of temporary financial hardship, your bank can grant you a temporary reduction or suspension of payments, which is called a slight tolerance until the situation recovers. Another alternative is a one-time interest-free loan called a partial entitlement to compensate for late-payments and recover mortgage payments. Don’t rule out selling, cutting costs, or getting a second job to help you make payments and keep your home.

Early depreciation or short selling is also a choice for those who feel they can no longer afford their homes. If you have a lot of savings at home, you’re going to keep the rest of the mortgage of the selling price. Or if your home is sold under your contract, most banks can lend you a small amount of money. For those who are too far away and do not expect their equity to be recovered from the auction, an act may instead be a final attempt to avoid foreclosure. You will willingly apply your credential with a stamp to the bank. While this option leaves you naked, you’re at least protected from the credit consequences of foreclosure. There are several ways to avoid seizures. All you’ve got to do is find the right one for you.