In the past year, you've probably heard the word "foreclosure" more than in any other year - and for good reason. With all of the instability in today's housing market, it can be a very worrisome thing to be a homeowner. Today's economy means that you have to be smart, plan ahead, and focus on some bare essentials when preventing foreclosure. Want to become a master of foreclosure prevention so you can stay in your own house? This article will provide advice and help you get started.

Foreclosure prevention starts with you. It's tempting to blame the bank, your boss, or your expenses for your financial problems, but ultimately you're the one who's going to have to deal with them. This means that you need to take the following attitude: "I am going to make this happen." No one can prevent your foreclosure for you; it has to be done yourself.

Okay, so you've got the attitude down. Where do you start from here? Simple: take a look at your monthly budget, including your recent mortgage payments, and make an honest assessment of your financial situation.

Some key questions to ask for foreclosure prevention:

-How much am I earning versus spending each month?

-Can I do better than paying my mortgage minimums every month?

-Where can I find extra money to make sure that I pay my mortgage on time?

Remember to ask positive questions that can have real solutions. Questions like "why are these financial troubles happening to me?" don't serve much use.

Once you've taken a look at these questions, start coming up with some answers and write them down. If you're married, do this exercise with your wife. From these answers, implement some action steps in order to improve your financial situation.

If you have major problems, like that your time is being consumed without earning enough money, there's a possibility you may have to make major life changes. It may be time to consult with a loss mitigation specialist. Or call an attorney experienced with helping to solve economic challenges like foreclosure, short sales and bankruptcy options. In other situations, simple adaptations can be enough. Do what works for you for the best foreclosure prevention.