With rising interest rates and a softening housing market in states such as California and Florida, the number of foreclosures and notice of defaults has risen steadily over the past 12 months. Facing a foreclosure on your home can be a scary and unsettling prospect for a borrower. There are steps that homeowners can take to protect their most important asset from foreclosure proceedings. One note: if you are a homeowner and are in serious financial difficulty, you need to find a professional attorney to help you keep your home.

The most important step is to act