Stop or avoid foreclosure on your home. If you suddenly experienced a financial crisis and become unable to make payments on your home loan, ask your lender to work with you at no cost. Most lenders prefer home loan modifications rather that taking properties back due to defaulted loans. This way, you’ll be able to cover the payments to prevent foreclosure.

Before you talk to your lender, figure out how much you’re paying per month on your home loan. This includes the principal, interest, taxes and insurance as well as any homeowners’ association fees you may have to cover. Then, figure out what you can reasonably pay per month from then on.