What is a foreclosure? It is the repossession of a borrower’s home by a lender. When a borrower fails to pay for the amount owed to a lender, his home, which is used as security for the debt is taken over and is likely to be sold to interested buyers. When a borrower is facing an imminent foreclosure, he must seek professional help in order to stop the foreclosure proceedings. It can be stopped as long as he is able to take action as early as possible. There are available programs intended to help people facing the threat.