Foreclosures have increased dramatically the last three years as a result of the subprime lending disaster and a lot of people are wondering if they will be next. There are options for many homeowners, they just need to know what to look for and where to look for it at.

If  you find yourself struggling to make your mortgage payments, and you fear foreclosure may be in your future, the National Foundation for Credit Counseling (NFCC) has suggested a few possible alternatives. These options to fend off foreclosure include:

  • Repayment Plan
  • Reinstatement
  • Forbearance
  • Loan Modification

The Federal Trade Commission wants people to know that these alternatives may not work for everyone especially if you are already three or four mortgage payments behind.

Visit the NFCC's Homeowners Crisis Resource Center website for more information regarding the above alternatives. They can also assist you in locating a certified housing counselor to explore your options in an effort to fend off foreclosure.