Every homeowner is different, and the options available to avoid foreclosure will depend on your particular situation.

Your mortgage lender may allow you to reduce or stop payments temporarily. By doing this, you have time to pay off other bills, save money, or perhaps get a job. However, there is a catch. When you begin making payments again, you must submit your regular monthly payment plus an extra amount each month until you are up-to-date on your payments. That means your monthly payments will increase.
Loan Modification
If you can make current payments, but cannot catch up on late payments, your lender may agree to change the terms of the loan. They might add the missing payments to the total loan balance, lower your interest rate, turn your adjustable rate into a fixed rate, or extend the length of your loan.  Unfortunately, most people do not qualify for a loan modification because of existing car payments, student loans, medical bills, credit card debt, or other financial obligations.
Deed-in-Lieu of Foreclosure
If you cannot catch up on your payments or sell your home in a reasonable amount of time, you might be able to transfer the deed to the lender to avoid foreclosure and protect your credit rating. Instead of waiting 5-7 years for your credit to recover, you could revive your credit rating within 4 year and qualify to finance a new home. * Most lenders require that you try to sell your home with a realtor for at least 90 days before applying for a Deed-in Lieu.
Short Sale
For many homeowners, especially those 30 to 60 days behind on payments, the short sale is the most practical option to avoid foreclosure. In a short sale, you sell your home, but the lender agrees to accept less than the amount you owe. In some cases, this means you will erase your entire debt and could rebuild your credit rating in just 2 years (instead of the usual 5-7 in a foreclosure). So in about 2 years, you could qualify for a new home loan.
For More Information of Foreclosure Avoidance contact :
Teresa Dietrich SFR & HAFA Certified Realtor, DRE # 01222347
Nevada County Realty
530-432-3333 or  e-mail : Teresa@GoldCountryRanches.com