Homeowners with [tag]adjustable-rate mortgage[/tag]s or who bought more house than they could afford — made worse by stagnating wages or a job loss — are especially feeling the squeeze. This is hardly the time to stick your head in the sand and pretend any problems you face will somehow disappear.

The fact is, good options exist for a good many late-payers, said Wayne Ferguson, a [tag]Freddie Mac[/tag] customer-care official who helped conduct the Kansas City event. He said the message is simple: “We want you to call the [tag]lender[/tag] early, call the lender often.” He summarized three main alternatives to foreclosure often available to those holding Freddie Mac-backed loans. But they can be broadened to apply to a variety of other [tag]home mortgage[/tag]s:

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