subject: You Get A Grace Period With Preforeclosure [print this page] It is important to take the time of preforeclosure to heart. If you find yourself in a situation where keeping up with your payments is becoming harder and harder, you need to see what options you may have at your disposal to make a difference in the outcome. If you are brave enough to look foreclosure squarely in the face, you may just come out of this with something like success.