What to Do Right now
If you're facing foreclosure, don't panic: take Steps right now to save your home or at least lessen the blow of its loss.
Once you miss at least one mortgage payment, the steps leading up to an actual foreclosure sale can include demand letters, notice of default, a recorded notice of foreclosure, Publication of the debt, and the scheduling of a foreclosure auction. Even When an auction is scheduled, however, it may never occur, or it may occur but a qualified buyer doesn't materialize.
KNOW YOUR OPTIONS.
BOTTOM line: Foreclosure can be a long slog, which gives you enough time to come up with an alternative. meantime, if your goal is to salvage your home, think about keeping up with payments for homeowners insurance and property taxes. otherwise, you could compound your problems by getting hit with an uncovered casualty loss or liability unit, or tax liens.