No homeowner ever intends to miss mortgage payments. Life, as most have learned, has the tendency to throw us a curve when we least expect it. Job loss, death or divorce can quickly throw our life and finances into chaos. Homeowners can't always prevent defaulting on their payments. What's important is how a homeowner reacts to their predicament.

Inaction is the choice some homeowners make. They may choose to deny the fact their home could be lost and respond by doing nothing. Some will agree the default is a problem, but they don't act to resolve the issue. If they do finally decide to act, it may be too late to avoid losing the property.

Overreaction is another choice some homeowners make. They assume missed mortgage payments revoke their rights to own a home and look for a quick way out of the situation. These homeowners, because they didn't look at their options, are the ideal prey for scam artists ready to take advantage of their response to the mortgage default.

Human beings are hard-wired to their emotions and both of these responses are examples of natural human reactions to a looming foreclosure. Understandably neither of these responses is ideal or helpful to homeowners in default. Ideally, homeowners should adopt a measured response taking into consideration all the options available and act decisively to prevent home foreclosure.

Here are a few sensible guidelines for stopping foreclosure.

Pick up the phone and contact your lender.

Once the due date for your mortgage payment has come and gone, it's only a matter of time before your lender knows you're in default. Act preemptively and call them right away. Leaving it up to them may leave you waiting for several months at which time it becomes much harder to resolve the situation.

When you contact the lender, be honest and to the point about your situation. Ask what suggestions they have. Lenders can usually provide solid advice as they deal with defaulted customers every day. Not wanting to take the house back, most lenders aren't eager to spend their money and time to foreclose on a defaulted loan, so they're open to other alternatives.

If you do manage to reach an agreement with the lender ask that they provide it in writing so that you're protected if they don't live up to their end of the agreement. Before you sign anything, have it reviewed by a real estate attorney or local HUD approved housing counseling agency.

Be cognizant of deadlines.

The lender will take the necessary steps to schedule a public foreclosure auction of your property if you haven't worked out a plan of resolution. Depending on your state of residence the countdown to auction could occur in less than a month to over twelve months in other states. It is crucial in either case that you understand exactly how much time you have before you lose your home.

Consider your alternatives.

Although the options are limited, homeowners in default have several viable options to stop the foreclosure process. Not all of these options will work for every homeowner, but all homeowners should consider the advantages and disadvantages of each option and determine which is best for them.

• Restructure the loan payments

• Refinance your home loan

• Sell your home

• Deed in lieu of foreclosure

• Bankruptcy

You can be creative when working out options with the lender. Again, keep in mind they really want you to keep the home and save themselves all the trouble of taking it back and reselling it. Stopping foreclosure on your home does not have to be an overwhelming experience. Act fast, act smart, and with a little bit of luck you may come out ahead in the end.