Stabilization devices for use with folding and/or extension ladders and methods of stabilizing ladders are disclosed herein. A stabilization device of one embodiment includes an upper shaft for operative coupling to a ladder's upper end. An outer leg has a lower end and an upper end with an aperture for receiving the shaft. An inner leg is configured for telescoping extension relative to the outer leg, and means are included for maintaining the inner leg at various positions. A foot is at the inner leg's lower end. A lower bracket selectively attaches to a ladder leg. A lower coupler selectively attaches to the outer leg. A lower strut has a first end attachable to the lower bracket and a second end attachable to the lower coupler to operatively couple the outer leg to the ladder leg and maintain a distance between the outer leg and the ladder leg.