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Don't shoot the messenger - but times are tough, and uncertainty is definitely in the air, at least for the meantime. With the recent dip in the economy, people are starting to worry if they'll ever get to keep up with the mortgage. This is an understandable dilemma for some, but an alarming indication for those who are directly affected. The possibility of losing a house in which you have spent your hard-earned money is painful enough, but it pales in comparison to the consequences - a severely damaged credit, an increased difficulty in approval of future loans, not to mention the heartbreak which goes with an experience which can either be life-changing in positive or devastative way (the latter is, needless to say, much more common). Homeowners who are at risk of foreclosure may be running scenarios through their minds now, expecting something short of a miracle.

Those who are stuck between a rock and a hard place will reluctantly learn that their lenders are their best friends and the most bitter of enemies at this point. It may be naive to think that the lender will tell you, the homeowner at risk of losing your home, to keep your cool as things will definitely brighten up - but it helps, until you have a sit down. More often than not, the tone can be a little insidious ("You'd better make ends meet; your prospects aren't bright, I'll give you that"). If you end up with a Good Samaritan of a lender, consider yourself lucky, but there's still the missed mortgage payment, and you have to work it out together to devise an exit plan. The options are varied and unpleasant, and the person who ends up with the shortest straw is you.

Anyone who knows his business will tell you that filing for bankruptcy is a serious no-no; even if you are freed from all your debts, you still have to prove your incapability to pay up, and even if you succeed in doing so, you're credit rating takes a nose dive, and will haunt you for years on end. It may be best if you gather your bearing and clear your mind first before you make a move - indeed, paying up is the bestest of best ways. You may have to pull from any available resources, even your retirement fund, or you may swallow your pride and ask your friends for a loan. Whatever you do, you'd better have the weight of the situation carefully assessed; maybe losing the home which you couldn't afford may be more to your advantage, if you make a last ditch negotiation with your lender and get approved for a settlement. Maybe the economic outlook would brighten up, and sticking with the mortgage is the best move, especially if you have a substantial equity on the home. It seems that the situation is too difficult to tack on all its four corners, and the best advice would probably come from hired professional help. As for the hurt morale, the only advice which can help in these trying times is not to abandon all hope, the economy will pick up, as it has done so many times before.