So you missed a few mortgage payments. Everything happened so fast, one thing lead to another ..
and next thing you know your served foreclosure documents from the sheriff.

Lucky for you their are ways of stopping foreclosure, but be aware not all methods are for everyone.
Depending on your unique situation, you will find only 1 or 2 of the options suited to your needs.

We have 7 ways to stop foreclosure, so lets start from the top ..

1. Reinstate the Loan – Bringing your payments current will usually stop the foreclosure. Can you ask a friend or family to barrow several thousand dollars? If they will, can you even pay them back? Can you sell something of value, such as a car or boat? Will you be able to make future payments? Or will you end up back in foreclosure?

2. Renegotiate With the Bank – If your income has change, your lender may show you some mercy and renegotiate your loan terms. They may extend your term length to lower your monthly costs to something more affordable. You must prove to them your documented hardship. If you cant pay anything, there’s no negotiating.

3. Seek A Legal Delay – If you can prove a significant and temporary hardship, the courts may be able to delay your foreclosure. But more often than not, you can simply request the delay directly with your lender (see #2).

4. Refinance – If you have a lot of equity, you may be able to refinance your home to pay off your original mortgage. But more often than not, you will not be approved to refinance with hurt credit and permanent financial difficulties. Even if you could, do you really want to be in even more mortgage debt than you are now? Probably not.

5. Sell The Property – Put your home up for sale at a price to completely payoff your lender. If you have equity in your home, you may get away with some cash in your pocket as well. This is almost always the best option. If you can’t afford the home, you have no right being there. Let it go, and give the bank their money. Even if you owe more than the home is worth, the bank may take your highest offer and forgive you for the remaining amount owed. Be aware this is called a ‘short sale’.

6. Deed in Lou of Foreclosure – In this situation you give the property back to the bank without a fight. If you hand over the title and leave the property so they can resell it, you will be relieved from the loan and a 'Foreclosure' will not be on your credit. It may still show something similar to 'late payment .. late payment .. late payment .. Deed in Lou', which is a little better than a full foreclosure. Think of a Foreclosure like an Eviction. If you cant pay your rent, and your land lord asks you to leave, then you wont suffer the consiquences of a forced Eviction. You will often also be responsible for any remaining balance owed if the sale does not cover the full loan amount.

7. File Bankruptcy – If you are in debt deeper than just your mortgage, such as credit card debt and/or medical bills, filing bankruptcy may lower those bills or eliminate them completely. But it will NOT prevent the bank from foreclosing on your home. Your foreclosure will simply be postponed from the day the bankruptcy is filed, until the first court date in several weeks. The lender will either work to lower your monthly payments to something you can afford, or simply request (and be granted) to continue with the foreclosure.