If you think that you are headed for foreclosure, you may wonder what you can do to help fend off your foreclosure. There are things that you can do that may be able to help you with your foreclosure. 

Talk to Your Lender

The very first thing that you need to do is to talk to your lender. There are several good reasons for that. One is that you may be able to negotiate lower payments or a longer payment schedule. Lenders are also much more willing to work with people who are talking to them. Starting to talk to your lender as soon as you think that you are going to have problems with your payments will also give you a better chance of the lender working with you. Not talking to them at all until the situation reaches a crisis is probably not your best option in this situation. 

File For Bankruptcy

This can feel like you are taking a drastic step, but it can help you. If you are at the point where you may be facing foreclosure, then you may also be in a great deal of debt. Filing for bankruptcy can stop the foreclosure process. When you file for bankruptcy, there will be a person who works with you and your creditors. They will negotiate with your creditors for payment schedules and amounts. That includes your mortgage lender. 

Walk Away

You always have the choice to walk away from the house. You just stop paying the mortgage, making any negotiation attempts, or trying any other options, and move out. The problem with doing this is that in some states you may still be liable for your mortgage or other fees. You will also likely see a drastic drop in your credit score. You may also run the risk of the lender coming after your other assets or your paychecks. If you are seriously thinking about this option, you should really speak to a lawyer at a law firm like Alejandro Rivera PA - A Law Firm who handles foreclosures so that you are fully aware of all your risks and all your options. The attorney may also be able to help you with negotiating with your lender if you change your mind about walking away. 

If you are having problems paying your mortgage, you may be trying to figure out how you can fend off the problem. There are things that you can do that may let you still hold on to your house.