Homeowners facing the loss of their homes due to a financial hardship often rely primarily on getting a new line of credit to stop foreclosure. In effect, they are trying to decipher a debt problem by taking on more debt, refinancing their mortgage or taking out a personal loan or car title loan to get the funds to pay back the debts. There are a number of loan products that they may even be able to qualify for, if the foreclosure process has not gone too far, but homeowners should carefully examine their options for foreclosure loans, to make sure they are getting into an affordable payment and not simply postponing the inevitable. The first obstacle that homeowners facing a financial crisis will have to overcome is a low credit score. Although their credit may be reasonably healthy in the beginning stages of the hardship, once they start missing mortgage payments, their credit score will drop dramatically and it will be very hard to obtain any kind of loan, mortgage or otherwise. This will break down them to rely on alternate sources of funding, such as private real estate investors, subprime lenders specializing in bailouts, or hard money lenders, that may not offer terms in favor of the homeowners. The qualification guidelines will be drastically more hard to meet, and costs for these types of mortgages may seem very expensive. Additionally, the current foreclosure crisis in the real estate market has caused many lenders to go out of business, and many more to …