Many a homeowner has been unable to make a mortgage payment lately. It’s a national plague and you must work quickly to fix it before it spirals out of control. If you are facing the losing end of a foreclosure, stop and begin your path to a solution.

Try a broker. If you cannot pay your mortgage and face losing your home and abusing your credit, a quick sell might be the answer. A real estate broker will be able to give you a clear picture of your options.

If you have abundant property, sell an easement. You give up a little land but increase your financial outlook. Which is better? A Foreclose on your home or selling off a ¼ of an acre?

Place your property up for sale on a ‘rent to own’ basis. Prospective buyers would need a down payment big enough to cover your mortgage debt. This saves your credit score and you will still reap the benefits.

As soon as you see trouble looming, refinance BEFORE you get knee deep into trouble.

If this is revenue generating property, search for investors to sell a share of the property.

If this isn’t revenue generating property, still search for investors and sell shares of the property. All properties can be rented NO MATTER WHAT. The government provides Section 8 housing funds to those unable to afford housing. This is a sure bet if you need to rent in a hurry.

This should be the second thing you do! Negotiate with your lender as soon as you realize you are in trouble. Many mortgage lenders will allow you to alter the contract and negotiate new payment arrangements.

This should be the first thing you do! Don’t get behind in your payments. This is obvious but many homeowners say it’s unavoidable with today’s economy.

Not all homeowners facing foreclosure are financially irresponsible. The recession has caused budget shortages, inflation of prices and a huge job loss. Now is the time everyone should come together and find the best solution to this nation’s epidemic.

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