Tips to avoid foreclosure directly from Fannie Mae.  Below is the link directly to the website!

http://www.fanniemae.com/homepath/homeowners/in_foreclosure.jhtml

Act now – help is available!

If you are facing problems making your mortgage payments, you can take action to help avoid losing your home to foreclosure. Here are important steps that you should take now:
Call your mortgage company right away to talk about your situation

If you are behind on your payments, speak with your mortgage company. You can find the contact information on your monthly mortgage statement or coupon book. It is important to act quickly because if you fall further behind in your payments, there are fewer options to avoid foreclosure. If your mortgage company is unable to help, or you are not yet delinquent and think you may be unable to make future payments, contact the Homeownership Preservation Foundation at 1-888-995-HOPE. Experienced counselors can help you consider the best plan of action for your personal financial situation.
Understand your options

Your mortgage company or a homeownership counselor can help you understand the options available to you. They may include:
Repayment Plan-If you have missed some monthly payments, you may be able to catch up by creating a schedule for repaying the past-due amount.
Advance (HomeSaver Advance^TM)-If your mortgage company tells you that your loan is owned by Fannie Mae, you may be eligible for an unsecured personal loan to help you catch up on mortgage payments.

Modification-In some cases, mortgage loan terms can be changed on a temporary or permanent basis to make the payment more affordable.
Foreclosure will damage your credit rating and your ability to borrow money or buy a home in the future. When the options above don’t work or you know you can no longer make your monthly payment, you may need to sell your home.
Pre-foreclosure or Short-Sale-If you cannot sell your home for the amount that will pay off the loan, talk to your mortgage company about a pre-foreclosure sale. Depending on your situation, the mortgage company may be willing to accept a payoff amount less than you owe.
Deed-in-Lieu-If you cannot sell your home in a reasonable period of time, your mortgage company may be willing to accept a deed where you voluntarily transfer the property to the mortgage company.
You have more options if you act quickly. Now is the time to ask for help!