other options to avoid foreclosure

1. Reinstatement:   This is when the homeowner/borrower pays the entire default amount of missed mortgage payments including penalties and fees. 

2. Forbearance:   An agreement to reduce or suspend payments for a short period of time. 

3. Refinance:   If your mortgage lender will not agree to a loan workout or modification the homeowner may be able to refinance the loan with another lender. This is very difficult if the loan is more than 90 days late. 

4. Loan Modification:   The lender may agree to change the terms of the original loan to make the payments more affordable. For example, missed payments can be added to the existing loan balance, the interest rate may be modified or the loan term extended. 

5. Foreclosure Defense:   When a borrower hires a local foreclosure defense attorney to stall or delay the sale of their property at a foreclosure auction. 

6. Bankruptcy:   If a homeowner is considering bankruptcy as an option they should consult with a local attorney who specializes in bankruptcy law.