You've fallen behind in your mortgage payments and you're officially in foreclosure. Now what?

There are some last-minute things you can do to save your home, said Nicole Caldwell, the vice president of professional services at Consumer Credit Counseling Service.

"It's never too early to get help. Don't be afraid of talking to the mortgage company. If you feel that you're not able to effectively communicate with the mortgage company, we can help with that," Ms. Caldwell said.

Six months ago, Consumer Credit Counseling Service launched a federally funded default mortgage counseling program, which provides free counseling to those who are in mortgage default or might default in the future. The program, which employs certified housing counselors, has assisted 50 Georgians a month at its offices in Augusta, Macon and Warner Robins. And the numbers are increasing, she said.

The Augusta area is among the top 100 metro areas in the United States affected by foreclosure, Ms. Caldwell said.

According to RealtyTrac's November data, Richmond and Columbia counties ranked high in foreclosures. In Richmond County, there were 147 foreclosure filings, which is one in 586 housing units. Columbia County had 55 foreclosure properties, or one in 756 housing units.

Mortgage companies typically start the foreclosure process after three months of missed payments, Ms. Caldwell explained.

Though mortgage companies Fannie Mae and Freddie Mac temporarily halted foreclosure proceedings because of the holidays, Ms. Caldwell isn't aware of any plans for a permanent move to stop foreclosure.

Most people seeking counseling services have employment issues, such as a job loss or reduction in overtime hours.

"During their counseling session, we look at their overall financial situation. We want to develop a budget with them. Then we'll go over their options," Ms. Caldwell said.

After the client decides whether to keep or sell the house, the counselor contacts the mortgage company on the client's behalf. The counselor's main role is to bridge communication so clients and mortgage companies "can achieve a mutually agreeable solution," Ms. Caldwell said.

Mortgage companies have different criteria and standards. Typically, an affordable payment is "defined as a targeted percentage of the borrower's monthly gross income." Thirty-eight percent is common, but some lenders use figures between 31 to 41 percent, according to Bankrate.com.

Many lenders require proof the borrower has suffered a severe financial hardship, such as unemployment, prolonged illness, disability, divorce or death of a spouse.

In November, CitiFinancial established a program, Citi Homeowner Assistance, to help people before they enter foreclosure. Over the next few months, the program will reach out to 500,000 homeowners with Citi mortgages who require assistance to remain current on their mortgages, according to a release by Citigroup Inc.

CitiFinancial also has a foreclosure moratorium, in which the company will not initiate a foreclosure or complete a foreclosure sale for a Citi borrower who is seeking to remain in the home and has sufficient income for affordable mortgage payments.

Here are some additional foreclosure rescue options:

Repayment

If the resident would like to stay in the home, some mortgage companies will set up a repayment plan for 12 months. The homeowner would pay a little extra every month until current on the mortgage, Ms. Caldwell said.

Loan modification

Mortgage companies provide the option of loan modification. If the homeowner has an adjustable-rate mortgage, the company might freeze the interest rate for a period, maybe three or five years, Ms. Caldwell said.

Otherwise, the mortgage company could lower the interest rate or payments for a specified time to assist the client.

Lenders might offer a permanent interest rate reduction or an extended payback period, which is usually 40 years, according to Bankrate.com.

CitiFinancial has recently streamlined its existing loan modification program to aggressively rework delinquent loans.

The program uses a simplified formula to determine an affordable payment as a percentage of the borrower's gross income and then reduces the monthly payment to that amount by one or more of the following: interest rate reduction, extension of term or forgiveness of principal, according to Citigroup Inc.

Forbearance

If a person is two months behind, the company might grant a forbearance and put this past-due amount toward the back of the loan. This allows the owner to "start over fresh" with his payments so that the next month, the is current on the mortgage.

Mortgage companies might combine the above options, perhaps with a two-month forbearance, followed by a two-month repayment plan and then a loan modification, Ms. Caldwell said.

Refinancing

Some Federal Housing Authority programs have lenders that will allow people who have less-satisfactory credit ratings to refinance. Wachovia Mortgage has a loan product that allows homeowners delinquent on their mortgage to refinance into a FHA loan, said Barry Davis, the mortgage banking leader.

"It gets them out of a possible high interest rate or adjustable-rate mortgage and into a fixed-rate mortgage. It gets them back on track," Mr. Davis said.

Wachovia's loan program overlooks a person's credit history and certain delinquencies, particularly if the delinquency was caused by "the loan resetting to a higher rate on an adjustable rate."

Those who qualify for this program should have already received a letter in the mail. Non-Wachovia customers can contact Wachovia Mortgage about the program, too.

"Refinancing has greatly increased over the last three weeks," he said. "Probably 70 percent of what we're seeing in our mortgage applications are refinances."

The Department of Housing and Urban Development has started a refinancing program, HOPE for Homeowners, which allows people to refinance into government-backed loans.

"It's still a fairly new program, so they're waiting for the first case to close nationally," Ms. Caldwell said.

The process is fairly complicated and expensive for homeowners because the interest rates are high, she said. Also, if there is appreciation on the house's value, the owner must share this profit with the FHA when he sells the home.

HUD reported in late November, however, that meaningful changes were made to the program to "reduce the program costs for consumers and lenders alike while expanding eligibility by driving down the borrower's monthly mortgage payments."

The changes included increasing the loan-to-value ratio, simplifying the process to remove subordinate liens and allowing lenders to extend mortgage terms from 30 to 40 years, according to a release by HUD.

Additionally, it's important to consider how much it will cost to refinance, such as closing costs, Ms. Caldwell said.

Sell the house

If the homeowner would rather sell the house, mortgage companies provide the option of a short sale, Ms. Caldwell explained.

"Housing prices are falling right now, so how much they owe might be more than the value of the house," she said.

For instance, a homeowner might owe $200,000 on the mortgage for a house worth only $180,000.

"The mortgage company may agree to take the loss," she said.

Ms. Caldwell warns that it's important to read all documents because you don't want to sign your deeds over to someone else. It's always best to meet with someone in person, Ms. Caldwell said.

"Beware of places that charge you a big, upfront fee, such as $500 to start the program," she added.