Perhaps the best way to avoid foreclosure is to always have a job and never buy more than you can afford. But life can be unpredictable, and mistakes are made. So what do you do if you are having trouble making those payments? First of all, act fast, because some of the things you may need to do take time to take effect.

See if you can cut other household expenses in order to redirect the money to the mortgage payments. Consider cashing in retirement plans to keep from losing your home. Talk to your lender as soon as possible, to see if the loan can be modified or if payments can be temporarily suspended.  Finally, if you have equity and these steps don’t help, consider selling your home before you lose it.