As soon as you know you won't be able to make your payment, take the following steps.

1. Call your lender. Ask for the Loss Mitigation Department. Be honest about your situation so they can give you the best option.
2. Stay in your home. Foreclosure moves more quickly through the court in vacant homes.
3. Open your mail. Governement and non-profit foreclosure intervention groups may mail you information.

1. Special Forbearance: A payment plan made by your lender based on your current or temporary financial structure.
2. Mortgage Modification: Refinance and possibly qualify for lower rate.
3. Partial Claim: Your lender may be able to help you secure a one time payment from the FHA.
4. Pre-foreclosure Sell or Short Sell: Sometimes the lender will allow you to sell for less than you owe.
5. Deed in Lieu for Foreclosure: Your voluntarily give the bank back your home. This will not save your house but is not as damaging to your credit.

You may retain ownership of your home and continue to live in it up until the time that the confirmation of sale has been filed with the court.