Have you received legal notice that your property is being reclaimed by the bank? Are you looking for a way to stop foreclosure now? Although there are often few viable options available to homeowners whose residences are on the brink of being taken away, you may still be able to forestall or reverse the foreclosure process by following these steps: Work with your lender. Ideally, homeowners should contact their lender as soon as they suspect that a mortgage payment will be missed or late. However, even if the foreclosure process has already been initiated, your lender may still be amenable to a repayment plan or some other form of compromise. If you have been avoiding contact with your lender, set your fears aside and initiate discussions with a bank representative today. You may be pleasantly surprised to find out that many lenders are more flexible than you may expect; Seek help from an outside party. If you feel like you cannot negotiate with your lender, it may be beneficial to seek the advice of an objective third party who is qualified to assess and facilitate foreclosure prevention situations. Check HUD's website to find a qualified counselor in your state: http://www.hud.gov/offices/hsg/sfh/hcc/fc/; Try to find funds to make up your missed payments. Although you probably wouldn't be facing foreclosure if you weren't already facing financial difficulties, it may help to brainstorm creative ways that you could raise the money to make up your missed mortgage payments. Do you have a relative who might be willing to help you out with a temporary loan? Could you sell a vehicle, jewelry, or other household goods to make up the difference? Although it might be painful to part with your possessions, this kind of drastic action may be the only thing you can do to stop foreclosure now.