The possibility of losing your home because you can’t make the mortgage payments can be terrifying. Perhaps you’re having trouble making ends meet because you or a family member lost a job, or you’re having other financial problems. Or maybe you’re one of the many consumers who took out a mortgage that had a fixed rate for the first two or three years and then had an adjustable rate – and you want to know what your payments will be and whether you’ll be able to make them.

If you’ve fallen behind on your mortgage payments, the threat of foreclosure can become overwhelming. Struggling homeowners might feel inclined to simply accept their fate—there’s no getting out of foreclosure, right? But when it comes to mortgage foreclosure, remember that you have options.Understanding those options and what you can do if your house is in foreclosure can help you mitigate the damage done to your credit and overall financial health. It might even help you take action to keep your home.

Your first step is to seek free debt counseling. You should find an approved, non-profit housing counseling agency. The advisor will take a comprehensive look at your budget. They will also help you identify your options. This will help you make an informed decision.You may be too nervous to contact your mortgage company. Counselors can help you contact your lender for you. They also know how to speed up the process. They can even help you gather the required documents.