There can be times when a borrower finds it hard to repay his home loan, such a condition is very devastating because under such circumstances it is very much possible that a borrower will loose his dwelling place so that the lender can sell that property to recover pending loan amount.
This generally happens when the borrower avoids sharing the problem with his lender, a borrower must understand that it is his lender that can help him out of the situation. The option of selling the property to recover the loan amount is the last option for the lenders; they themselves avoid going for the option.
A borrower can seek advice from his lender, explain his financial condition and ask for some relaxation in the terms and conditions of his loan scheme. He can also seek foreclosure assistance from his lender; the lender will study carefully the income and expense pattern of the borrower and would suggest measures to stabilize his financial condition, so that he can pay back his loan.
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