Foreclosure is a process in which the borrower is faced with the termination of the rights of ownership to a specific property. This arises out of falling into arrears in payments of a mortgage or defaulting under the terms of the loan agreement. In terms of real property, a foreclosure usually results in automatic court-ordered sale of the property. There are several different types of foreclosure. The 2 major forms are judicial sale and power of sale. The former is court supervised; the latter is the result of inclusion in the loan agreement. How to stop foreclosure proceedings can be complicated. Above all you must avoid the lender filing a Note of Default. You should talk to the lender any time you have problems paying the money or monies required. If possible, work out a new repayment schedule. You can also try to arrange for reduced rates and move to alter the terms of the original loan