Today's volatile housing market along with rising gas and food prices are leaving an increasing number of families financially strapped and many are searching for tips on avoiding foreclosure. First, allow me to say that it is not necessarily something you did wrong. We have enjoyed several years of prosperity and the housing market collapse started our economy into an unexpected downturn. So stop beating on yourself and above all face reality and learn all you can about the foreclosure process and the options you have available to stop foreclosure. The sooner you begin dealing with the correct persons the better your chances are of saving your home.

Depending on the type of mortgage and particular lender, you may have other options. Most lenders, wary of rising foreclosure rates, would rather work out some sort of pre-foreclosure solution rather than take a homeowners home. Lenders are in the business of lending money, not selling houses, and the process of foreclosure is a tedious one that most institutions would rather avoid. The first thing a homeowner should do if when finding themselves with a problem making mortgage payments is to call the lender and discuss the alternatives with them. The sooner you contact the lender, the more likely you are to work out a solution that’s agreeable to both parties.

Here are a few possible options for buyers who are having temporary cash flow problems:

• 1. Your lender may agree to temporarily suspend payments until you are able to resume paying them. Alternatively, your lender may be willing to restructure or refinance your loan.
• If your loan is insured by the Department Housing and Urban Development or the FHA, you may be eligible for a one-time payment to bring your mortgage payments up to date. For details, contact the HUD or FHA directly.
• You may be able to sell your home to pay off your loan. This is clearly not the first choice for many homeowners, but it is a better option than losing your home outright. Rising real estate prices during the last few years have left many homeowners with a lot of equity. You may be able to sell your home for more than you owe, which will relieve your debt and leave you with some cash left over.
• Your lender may be willing to simply take the home back, rather than force you out of it. You lose the home, but your credit rating will not likely suffer or at least it will not be as sever as showing a foreclosure on your credit history.

The above listed suggestions are just a few avoiding foreclosure tips and homeowners have many additional options available to them today in the home mortgage market. The Foreclosure Survival Handbook shows how and when to approach the correct persons when a homeowner finds they are having difficulty keeping up with rising interest rates causing higher monthly mortgage payments.