As a part of Project Lifeline, homeowners who are at least 90 days late on their payments get a 30 day pause until foreclosure. But some bankers say this will only work if homeowners use the pause to their advantage.

Henry Paulson, the U.S. Secretary of Treasury said, "This is an important new initiative targeted not only sub-prime borrowers, but all 90 day delinquent homeowners."

For those homeowners, Project Lifeline could be just the break they need, but they have to be wise with their time. Many local professionals say, for various reasons, many put themselves in a worse position by not doing anything about their impending loss.

Matt Hale from the Remax Capital Group said, "Talk to somebody, whether it's an attorney, a friend, you know, a realtor or even anyone that can help you. Get some information get informed and make an informed choice."

To make an informed choice, homeowners must make sure they know all their options in a foreclosure. Hale said, "It is a scary process. It's with you wake up and it's with you when you go to bed until you get rid of it."

Local lenders and realtors recommend some initial steps to take if the threat of foreclosure looms over head. Don't wait for the inevitable to happen and be in contact with some who can help before it's too late. When you go to the lender, go straight to the collections department. Never sit in silence and keep the lines of communication open with people who can help you. When it's all over and you've done everything you can do, be sure you have looked at every option.

Some of the professionals we spoke with today say Project Lifeline will help some people, but not the majority. One realtor says unfortunately, the goverment's solutions are often too little, too late.