With the economy in the United States continues to slow, the housing industry continues to be greatly affected. Inflation is raising the cost of living for everyone in the country. The national average price of gasoline is at an all time high, the cost of groceries is on the rise, and all signs point to an across the board increase around the country. Because of these cost increases, families that were already living beyond their means are being forced to face bankruptcy and Foreclosures, widening the gap between the 'haves' and the 'have nots', even within the middle class.

And there may be more trouble on the horizon. As the national interest rates begin to rise, those that saved money the past few years on adjustable rate mortgages will see their mortgages rise as well. If interest rates rise enough, these mortgages can easily become too much for families already stretched thin by the cost of living increases. This may lead to even more foreclosures, putting even more strain on the economy.

But the news isn't all 'doom and gloom'. There are many organizations around that can help Stop Foreclosures, and provide people with the help they need to keep their home, even if you have bad credit. Federal assistance programs, and bankruptcy laws exist to protect people with financial troubles, to prevent them from becoming homeless. And as the situation worsens, the government will do more to provide assistance. But these programs are becoming more and more stained as the economy worsens, inflation builds, and more and more people need the assistance.

There are several actions that need to be taken to prevent your home being foreclosed. First you should find an organization or company that can help you with loans and mortgage. They can help you find a better mortgage rate. A professional at one of these financial institution can help find an alternate to foreclosing. An option is to refinance but if you are not in the position to do so you can reconstruct your loan agreement. This is called a Loan Modification. It has to first get accepted and then for a couple months you do not have to make your payments. Then depending on the date of your closure and your current rates you may be able to negotiate a lower mortgage rate. Don't let the bank take your home.