[header] How to negotiate with your lender to keep your home [title] Do some research to learn about your options. [step] Check the internet, read newspaper articles, visit the library and read through other reference materials such as your state's foreclosure statute laws. Weigh all your options carefully before making any decisions. 
Common foreclosure prevention options that may be available to you include the following : [substeps] Mortgage modification. The lender modifies the existing terms of your current mortgage by extending the loan term and reducing the interest rate as well as sometimes reducing the principal in order to lower your monthly payment.