Have you considered remortgaging? Well, consider your situation for a moment. You have a reached to a situation where the lender is about to foreclose your property because you have missed payments. Of course, foreclosure takes time to finalize so you won't have to vacate your home right away.   So, what should you do if you want to save you home? You can actually approach your lender so negotiate for remortgaging. Many lenders would be willing to give you this opportunity because lenders generally don't want to be bothered with the lengthy process of foreclosure. They won't even be able to recover their money until the property is auctioned off. Besides, that is not their primary line of business. They are more comfortable at extending loans than selling properties.   Through remortgaging you could lower your monthly payments. But then you would usually have to pay monthly payments longer and the total payment would usually be higher. Still, it would be to your advantage at the moment because you also get to keep your home. In order not to worsen your situation though, make sure that you research other lenders too so you can find better deals in the market. Always keep an open mind for other solutions too.