Hi,
The last thing your bank wants to do it take the home back. They do not want to be in the real estate holding business. Talk to your bank about a loan modification. They really do work. However, be careful when speaking with them as it is possible to over or under qualify. Once you understand the simple process and what the bank is using to evaluate you, success can be attained.

To emphasize what everyone is already answered; talk to your lender. The more you communicate the better the chance they can help you through your situation. No lender wants to foreclose on a loan, they would rather keep you in your Home. If you have a good relationship with your lending establishment it will likely be easier as well.

The most important thing to do is communicate with your lender. In real estate, there is a famaliar saying when buying or selling property......"Location, Location, Location!" Well, in your situation, the key phrase is "COMMUNICATION, COMMUNICATION, COMMUNICATION!"

Many home owners feel embarassed to discuss their situation, but the worst thing you can do is to "do nothing". When you call your lender, ask to speak with someone in the "home retention" department. The people who work in this type department is skilled and knowledgeable about options for you. If you don't feel that you have gotten your situation handled adequately, then ask for a supervisor and perhaps someone else can better assist you.
Good luck.

Melissa &I are both in Slidell, and are happy to help. As we agree,Joe's first step is to talk to his lender as this is a genuine hardship case.Hopefully,the lender is a local one as they are much more sympathetic and willing to deal with situations like this as opposed to a big corporation.

you could also try to save your credit if you are to far behind and see if your bank will authorize an short sale, you could sell your home before foreclosure. If you are not interested in selling talk to your bank they will usually listen and try to help, before it is to late. Depending on her illness there may be goverment help for you through differ organizations. Good luck and God bless

Your first step should probably be to sit down with your lender to discuss a loan modification.