The foreclosure process is a method used by lenders to take over a home from its owner, regaining ownership and the unpaid debt in the process. For a foreclosure to happen, there must have already been a nonpayment in the mortgage. Generally, a nonpayment significant enough to warrant foreclosure consists of more than onemissed payments. To begin the process, the lender or other mortgage holder will issue a notice of default to the homeowner. At this point, it is the responsibility of the homeowner to take action. The simplest way to stop foreclosure is to pay the amount listed on the notice, but if that is not possible, there are other possible means of resolution. It is essential that homeowners facing foreclosure consider alternatives during earliest stages - negotiation, bankruptcy, loan modification, or a short sale are common options against foreclosure. If a resolution is not met, the lender will proceed to take ownership of the house as soon as the required time period has passed. This can be performed either in court or out of court, depending on laws in the state of foreclosure. From here, a property sale will be made recover the arrears and debt that hasn't been paid.