Special Forbearance. The bank or your lender may arrange a repayment plan for your home mortgage based on your financial situation. Some even provide temporary reduction or suspension of your payments. You must show that you are capable of meeting the repayment plan.

Mortgage Modification. You will make a new arrangement with the bank or lender extend the term of your home mortgage loan or make a refinancing. This can result to reduced monthly payments to a more affordable level. You must show that can afford the new payment schedule for your home mortgage.

Partial Claim. The bank or your lender may be able to work with you for the Insurance to pay for your home mortgage delinquency.

A Promissory Note will be executed and a Lien will be placed on your property until the Promissory Note is paid in full. One advantage of this is that the Promissory Note is it is interest-free and is only due when you pay off the first mortgage or when you sell the house.

Pre-foreclosure sale. This involves negotiating with the homeowner and most of the time, they are just forced to sell the house to stop the foreclosure, maintain a good credit and get remaining money from the property.

Deed-in-lieu of foreclosure. You may return your property to the lender. This won't save your house, but it will not damage your credit.