One of the most feared situations in which one can be found is to be in a position of not being able to make mortgage payments.  That goes for anyone in any country around the world. Given the economic unrest around the world, other nations like the UK find themselves in a similar predicament as evidence by this report:  UK Mortgage Crisis

If you are looking for practical advice, this will serve you well no matter of which country you are a citizen:

Talk About It.  Inaction is your enemy.  You need to pick up the phone and call your mortgage company.  Do not wait until you are months behind.  Rather, take action as soon as you think that you might be missing your first mortgage payment.  The mortgage companies have already anticipated these issues and have created programs to help those in your situation.  Not only do you stand to lose your home if you do not talk about this and confront it, but they are next in line to lose money.  This is because they will not get what the house is worth on a foreclosure and the expenses that they have in executing this action will eat any profits they might otherwise realize.

Do Something.  Not only do you need to avoid inaction, but you also need to take additional actions beyond contacting your mortgage company.  Your family needs to get involved and understand the serious nature of what you are facing.  A foreclosure not only puts a mark on your credit, but it also leaves emotional scars as well.  It is imperative that you speak openly to your family and then, make a plan to gather money to help meet your financial obligations.  Start with a part-time job to bring in extra income.  Work extra hours at your existing job.  Look for items in your house that you no longer need and sell them.  And way that you can uncover in helping you make extra money will help.

Cut Back.  Some consumers are having difficulty paying their credit card and other high-interest debt.  We see them choosing a debt consolidation program in order to help them.  The best advice here is to find a reputable company in which you can trust.  There are many unethical and down-right unscrupulous companies that would love to take your money with very little to show in terms of progress in paying down your debt.

This bit of advice has more to do with examining your expenses for areas in which you can make reductions.  There are a lot of unnecessary expenses in most households.  One example of this might be your cable tv channels.  Or you might look at that extra cell phone that really is not all that important.  You will be surprised at how little you miss these expenses and how much, in turn you add back to your income by cutting them out.  View all of your expenses in this manner.

The time for ease and inaction is gone.  Effort and hard work are needed to help you through these times.  You will be amazed at the amount of results you will begin to see from your efforts, however.