I am talking to a good friend of mine and he is really in the dumps about the way things have gone for him. About three months ago he lost his job. The man who founded the company got old and had to retire, turning the company over to his sons. They did nothing save squabble with one another and they quickly ran the company out of business. He had just bought a house and he has not been able to find a new job yet. He is looking at how to prevent foreclosures in NYC. Of course if you are lucky you will be able to work something out with the people who hold the mortgage on the place. It really depends on where they think their best interest lie. A lot of the time they will want the house back on theory that they will not have much trouble flipping it for a profit. Some times they will be okay with taking a small loss, or renegotiating the loan so that you pay it off a little longer than when they think that is going to be the best thing for their bottom line. Of course you often see a house foreclosed upon and then it sits there unsold for a long time and deteriorates. As often as not the bank is terrible at managing the property that they take. If you own a house you have to pay taxes on it and you have to do a number of things to make sure that it is in good shape. Just letting the leaves stay in the gutters can lead to a disaster. In fact you can lose a house pretty quickly if the gutters get stopped up by old leaves. Then you get water damage in the house.