If monthly mortgage payments are not paid over a period of time, the mortgage company can foreclose. This means you will lose your property and may be evicted from your home.A foreclosure also becomes part of your credit report and may adversely affect one's ability to obtain credit in the future.
But one can avoid such a situation by taking action before the crisis happen.


You can see various tips to avoid forclosure at the link provided below.

http://www.freddiemac.com/corporate/buyown/english/owning/avoid_foreclosure.html#pay

This may seem like a really obvious way to avoid foreclosure, but I think that I bears mentioning.  DON'T BUY A HOUSE THAT YOU CAN'T AFFORD.  That can be harder than it sounds.  Companies will use "creative financing" to push uneducated people into getting in over their heads.  ALWAYS go for a fixed rate.  It may mean less house, but less house is better than no house and a ruined credit score.

 
Nice thread! I really like your provided information. It's really helpful for me.
Thanks a lot!
 

Nice job! It's really nice link that you have shared with us.
Thanks!