prevent foreclosureForeclosures don't happen overnight. And in most cases, there are ways to prevent a foreclosure. The key is taking immediate action and doing everything in your power to reverse the situation. Mortgage lenders are flexible, and they don't start the foreclosure process until payments are three months behind. Even then, borrowers can generally remain in the home for one or two months. But before it gets to this point, consider three ways to prevent foreclosure, which can save your home and credit rating.

Put the house on the market: At the first sign of money troubles, call an experienced real estate agent and list your home for sale. It can take three or more months to sell a home. The sooner you list the home...the better.

Find reliable renters: Place classified ads in the newspaper or online and find someone to rent your property. They become responsible for the monthly payments. In turn, you can find a more affordable dwelling and prevent foreclosure.

Alter your loan terms: Before things get out of hand, call your lender and explain your situation. They may have provisions available, which are intended to prevent foreclosure. They may offer forbearance, short sale or a loan modification.