Amanda:
Keep trying. I am so proud of you for doing a little research to find out that walking away is NOT a good scenario. Your response was NOT long either. There are so many things that you could tell us to help discover a possible solution for you.

You said your boss messed up payroll. That's good, that means you are employed. How is your credit? Do you know your score? You said they set up a plan with you before, again, that's good. You said that you haven't called the lawyer yet. Again, I'm proud of you because you do HAVE a lawyer, at least I think. Was it YOUR lawyer or THEIR lawyer that you hadn't called yet?

Next, do you know what your home is currently worth? How long have you lived there? How old is your mortgage? Do you have a first and a second mortgage? Why/how did you get 4 months behind? Did you have an adjustable mortgage that caused an increase in payments that you can't afford?

Finally, start interviewing Realtors, call YOUR attorney, call a not-for-profit foreclosure counseling center, and call your mortgage company again and ask for a supervisor and keep going up the ladder. DON'T give up. So many people are too afraid to face this that they don't even take the steps that you have already taken. I'm proud of you.

I posted this psychological question:
http://www.trulia.com/voices/Financing/If_someone_is_conside…
and then a few days later, I discovered this persons post regarding her situation after she "chose to let the home go." She says, "We are basically starting fresh and we are running into some problems with trying to rent a place to live because of our credit problems. I am very discouraged about what we are going to do." There are some suggestions, so please read her post:
http://www.trulia.com/voices/Financing/My_husband_and_I_live…

In the reference is HUD foreclosure information for AZ.
Good luck,
Ruth

Amanda,
I have to agree with Patrick on this one. I usually would say find a good Realtor, but as mentioned short sales have a very low closing rate. Also, you probably are loosing equity in your home by the day with all of the fees. Adding a broker fee will probably not help. See a Bankruptcy attorney quick, you have some rights but you need to assert them quickly.

Amanda,
Sorry to hear of your unfortunate situation.
Options are;
1. Short Sale, Probability of success less than 20%
2. Your situation may allow relief from FHA Secure, Probability of success less than 20%
3. Visit a Bankruptcy Attorney.
4. Remain positive it could always be worse.

Thank you everyone. Tomaara, to answer your question, the situation is not pretty overall. I went into foreclosure in March, behind 4 payments. The day I went in they set up a payment plan with me. I'm supposed to pay every month on the 14th. I called my mortgage company yesterday to notify them the check was posted yesterday (15th) as my boss messed up on our payroll and did not get my direct deposit. This morning I called them again for more clarification at which time I was told I was in foreclosure as of today and to "wait". Thats the advice they gave me and told me my check will be mailed back to me. I haven't called the lawyer yet to find out the date and no record has been documented on the maricopa website yet. Long answer sorry!

Stay in the house and don't pay a mortgage. Bank your cash. More than likely you can stay there for 12 months.

I personally know a family living mortgage free 2.5 years and counting in Chandler, AZ. They do a loan mod every 6 months to stall eviction process. Their mortgage was $1,740. They totaled $51,000K savings so far. So this should make you think a little before packing your bags. You got to be smart and play their game.

I guess it's pay back time. Banks got their bailout. Now it's the public's time for their share.

Investor Mike
Gilbert, AZ

I say Contact the Arizona Short Sale Office, the company specialize in helping homeowners stay in there home by working with the lenders to accept a lower amount for your monthly payment. There success rate is amazing for short sales, however there main focus is to work out a win-win situation with the lender on behalf of the homeowner. http://www.ArizonaShortSaleOffice.com. (I also work for the Arizona Short Sale Office, so I definetly want you to get the right help.) Beware of any companies that require you to sign over a warranty deed, brings a notary to your house, comes to your house to meet you, or does not have an office to meet you. Just a few foreclosure tips, its critical you get help from a company that has happy previous clients.
When your in foreclosure you want to get help from individuals who are actively working on similiar cases.

Amanda,

You have many options...some you were probably not aware of!

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That's awful. but I feel you may want to speak with your mortgage company and ask if they wouldn't mind a short sale, and save themselves some money if they foreclose. It is a long shot but you may wan to see if that might be possible just to see if they would accept.

Foreclosure is a long and expensive process that many lenders do not want to go through. Besides if they do foreclose, they have to try to sell your home, and pay electricity, water, etc.. to sell it. And they do not want that either. Try and talk to the Loss Mitigation Department and see what happens. A REALTOR® could do this all for you too.

Ulises Romo, REALTOR®
PRO-formance Realty Concepts
ulisesromo29@yahoo.com

Find a good Realtor in your area and see if you can do a Short Sale.

Hello Amanda,
I am sorry that you are going through this difficult time. Let's see what options you have:
Just a few questions to see where you are at:
1)Have you been notified of a date for a Trustee Sale yet?
2)How many payments are you behind?