1.) Bring the loan current. "Reinstatement"
2.) Workout a "Forbearance Plan"
3.) Sell the home to a cash home buyer
4.) Short Sale
5.) File Bankruptcy
6.) Deed in lieu of foreclosure
7.) Loan Modification (not offered through JTI Real Estate. Assistance is offered through an Attorney in New Jersey).
Making Home Affordable: http://www.makinghomeaffordable.gov/
HOPE for Homeowners (H4H): http://www.hud.gov/hopeforhomeowners/
National Association of Realtors “Field Guide to Short Sales”: http://www.realtor.org/library/library/fg335
Relocation Resources: http://portal.hud.gov/portal/page/portal/HUD/topics/avoiding_foreclosure/relocation
Rental Assistance: http://www.hud.gov/renting/index.cfm
Mortgage Forgiveness Debt Relief Act of 2007:
http://en.wikipedia.org/wiki/Mortgage_Forgiveness_Debt_Relief_Act_of_2007
http://www.irs.gov/individuals/article/0,,id=179414,00.html