1 . Talk to your lender - it’s important for them (lender) to know why you’ve missed your payments and request them for some recovery plan they might have for you. It’s always better to approach the lender early, even before you’ve missed your first mortgage payment.

2. Seek Counseling : or contacting a counseling agency that are approved by the US department of housing and Urban development. Call 1-800-569-4287.

3. Always watch out for scams : many of the HUD firms offer their service at no cost or charge minimal fee of no more than $100 to process the paperwork.

4. Beware of those refinancing options : it’s no brainer, if you’re having problem paying off current mortgage, it’s unlikely that a new higher mortgage would help you. Yes you’ll get some money out but would you be better off ?