Foreclosure has been one of the foremost topics within the real estate world in recent years, as each year more and more Americans are suffering from the inevitable prospect of an imminent foreclosure.

Even with more than 20% of all U.S. homeowners being "underwater" as of 4th quarter 2009, more and more people are realizing that foreclosure isn't the end and you have other options than to simply throw in the towel.

First of all, never ignore the phone calls or letters from your lender, if you are unable to pay your mortgage and you're facing probability of foreclosure, you need to deal with it, do not ignore it. The longer you disregard calls and letters, the harder it will be to save your home further down the line. Which is an option a lot of Americans are still yet to realize, just because you're facing foreclosure doesn't mean there is no possibility to save your home. Few people realize that the first letter you will receive from your lender concerning a missed payment or a mortgage issue will contain a lot of helpful information to help avoid foreclosure, especially if you feel you are struggling to make the payments due to financial hardships. It's important to remember that during the foreclosure process, not opening your mail will not count as a valid excuse for defense, so make you open everything so that you are aware of everything that is happening. Be sure to contact your lenders immediately as soon as you receive their demand letter for notification of a missed payment. Few people realize that if you contact your lender, often they can help you and try to get you back on track, contrary to popular belief, lenders do want your home back, they would much rather avoid foreclosure.

Some of the many options available to you as a homeowner are to request a forbearance of payment from your lender (which is a period of time that your lender will actually forego the collection of payments, this giving you more time to get back on your feet. Or perhaps you want to attempt to get approved for a loan modification in an effort to lower your monthly payments. And if none of these options will work for you, than you can always consider a short sale, where your lender will actually accept less than is owed on your property as a final amount and mark your mortgage as satisfied. A good attorney can also get the lender to agree to NOT pursue you for the difference and thus you will walk away from the house without owing anything further.

If you still find yourself being served with foreclosure documents than the next thing you should do is find a good foreclosure defense lawyer. A foreclosure defense lawyer can actually be essential if you are going through the foreclosure process. They can oversee the whole proceedings and go through all your documents to make sure that everything was done correctly. In the event that something was not done correctly at the fault of your lender, you could actually have a very good defense case, which can put a halt to the proceedings. It's essential that you review all of your mortgage documents and learn exactly what your lender has stated to do in the event that you cannot make your payments. It is important to seek out a foreclosure defense lawyer within days of being served with a foreclosure lawsuit as in many states there is a short amount of time for you to respond to or to contest the complaint.

There are a variety of options you can take if you feel foreclosure may be an issue, whether you choose to have a loan modification, a short sale or any other form of loss mitigation, your foreclosure defense lawyer can help you. They can help you decide which option is best for you and hopefully save your home. In this situation, foreclosure prevention companies need to be avoided at all costs; these types of companies are often more focusing on taking your money than helping you. A good foreclosure defense attorney will understand your situation and have experience in how to deal with it, remember: a company can't stand next to you in court, but an attorney can.

Foreclosure can be a very scary prospect, but it's not the end of the line, you have options and it's important you remember that. Open your letters, answer your calls, and get yourself a good foreclosure defense lawyer, you just might be able to save your family home.