Most guides telling you how to mount smb CIFS/Samba shares on Linux to mount on Windows 7 will point you to adjust settings in Administrative Tools -> Local Policies.
Windows 7 Home Premium does not have the Local Policies MMC snap-in. Therefore you cannot use that tool to change the NTLMv2 security settings.
Instead of messing with a snap-in at all, just open the registry editor and set the LmCompatibilityLevel explicitly.
It’s described here, buried in the Lsa control set on technet.microsoft.com.
Add a new DWORD (32-bit) Value, “LmCompatibilityLevel”
Set the value to 1 for the widest compatibility, or a higher value if you want to restrict session security to some combination of only NTLMv2, NTLM, LM.
See the technet page for the chart with descriptions of all the levels: