Have you tried contacting your mortgage bank? Many people people are embarrassed or feel helpless and are afraid to disclose their financial burdens. The economy is lining itself up for a recession.
Because of this, the banking tables have turned and will work with you. On average it can cost around $60,000.00 for a bank to forclose. It is in their best interest to help you keep your home. They have no choice in the matter.
So, if you feel like a deer caught in the headlights, I know it's hard, but try not to. When I called my bank telling them I had been laid off from my job and anticipated trouble, they told me unless I missed 2 payments or more they wouldn't help me (this explains a lot actually
). So I did. I was actually one of those people that hated doing it too but found a miriad of options once I surrendered. PMI payment, refinancing, re-writing the loan (they put the deliquency back into the loan, basically).
I believe the dept. is Loss and Mitigations.
I hope this helps.