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Many people are terrified of foreclosure. Some are harassed by their lender so often that they drain their savings accounts trying to satisfy the bank. Often homeowners in this situation want to sell their house because it is the only way they know how to avoid foreclosure.

But buy my home for cash transactions are not always the best solution to the foreclosure process. These types of transactions can be unpredictable. You will have to get permission from your lender to sell the property for less than the amount owed on the loan.

In addition, you will most likely get the lowest price possible for your property, which may leave you with tax consequences.

Here are three things you should do:

• Don't give your savings over to the bank to try to avoid foreclosure.
• Don't waste your time with sell my house cash transactions.
• Instead, delay the foreclosure process for as long as possible while you live at home for free.

Your lender may have already filed a petition for foreclosure.

If you are in this situation, there are strategies you can use to stay in your house--mortgage free--while the foreclosure process unfolds.

• When you receive a notice of foreclosure, respond with a hardship letter.
• Submitting this document will delay the foreclosure process for weeks and even months.
• It will take time for your lender to receive and process the document, as well as decide whether or not you qualify for loan modification.
• While your lender looks at your hardship letter, you stay at home, for free.

At the foreclosure hearing, you will have an opportunity to explain your unique foreclosure situation. The purpose of the hearing is to legally delay the foreclosure another few months while you live at home--mortgage free.

Although delaying the process will not stop the foreclosure altogether, fighting foreclosure can benefit you. You get to live in your house--mortgage free--for months or even years. During this time you can save your money instead of spending it so that you come out of this situation with money in hand to make a new start.