Foreclosure is sometimes difficult to handle. You’ve built a life and family in your home. You don’t want to lose it because of a temporary financial situation.

While facing a foreclosure is hard and does have an impact on your credit score, it doesn’t have to be completely negative. Foreclosures have many benefits that could help you when you need to bring financial balance back into your life. Here are a few reasons why a foreclosure can help.

1. You can negotiate the terms of your loan

While you may think a foreclosure automatically means you’ll lose your home, that’s not always the case. First, negotiate with your lender. You or your attorney can talk to the lender about extending your loan for lower payments or adding payments to the end of your loan and forgiving several months of payments you’ve fallen behind on. Sometimes, this modification is enough to help you save your home.

2. Foreclosures help you save money

Even if you don’t want to give up your home, a foreclosure could save you money in the end. Once the home is going into foreclosure, start saving the money you would have paid on your home. This way, you’ll have money for an apartment or new place to live if you can’t modify the terms of the agreement and stay where you are.

3. Foreclosures give you a fresh start

Sometimes, losing something is what you need to get back on your feet. Handling the costs of a home along with maintenance and other expenses isn’t easy. A foreclosure may take away a home, but it also gives you a chance to reassess your situation. You can then look for rental properties or places to live that are less expensive and within your current budget.

If you don’t want to go through a foreclosure, remember that you do have some time to negotiate with the lender. If you can catch up on your payments or negotiate better terms for your mortgage, you may be able to keep your home and stay where you are. Your attorney can help you reach out to the lender if you’re unsure of how to negotiate with the lender or are having trouble doing so. If you’re in a difficult financial situation, most lenders will consider this before pursuing a full foreclosure against you. With help, you may be able to keep your home.