In some cases, there is nothing you can do in order to actually keep your home. Nevertheless, you must stop mortgage foreclosure in order to eliminate the debt you owe. The lender may grant you a deed in lieu of foreclosure. This allows one to return the property to the mortgage company and the debt is forgiven. This procedure will leave a bad mark on your credit report. However, if you don’t stop mortgage foreclosure, it will devastate your credit record. This option may not be granted if your home has any other liens against it.