Foreclosure avoidance is a process used by homeowners in efforts to avert the possibility of foreclosure. When a homeowner has been negligent in paying their mortgage bills, the lender can pursue the debt by initiating the foreclosure process. However, the process of foreclosure can often times be avoided, in cases that allow it. This largely depends on the factors that caused foreclosure to occur. In most foreclosures, the homeowner is unable to pay because of unemployment or another significant financial hardship; while in other cases, the foreclosure may have resulted from a simple setback in finances. If the cause of foreclosure can be resolved quickly, most lenders are willing to commence what is known as a payment plan, which allows the owner to repay their debts with time. If the cause of foreclosure is irreversible, such as a permanent loss in employment, other forms of foreclosure avoidance can be available, though still negative - short sales and bankruptcy are the most common.