You must contact an attorney immediately. At this point you may have options for example: loan modification, deed in lieu , short sale ...etc but look out for yourself and contact a lawyer immediately. If you live in a 'mortgage' state like NY you have more time than if you live in a trust deed state but be careful.

Who is your lender? Have you received a notice od default? Has an auction notice been posted on your property? Your lender SHOULD be willing to accept payments.....no lender want s another foreclosure in this market!

You should consult with an attorney who is experienced in negotiating loan modifications. You may also seek out Project Hope which may assist you. denise@langweberlaw.com

Michael,
You are not alone with this very serious problem. There are specific remedies available to you to get you back on track with your bank with a mortgage payment you can afford. Please contact me asap, no sales pitch. I will be happy to share the information with you. I am actively engaged with several clients that I am presently helping.

Suggest that you contact your attorney immediately as well as the bank that holds your mortagage. Ask your attorneys advice in regard to strategy in speaking with your bank contact. In many cases banks will try to work out matters with their mortgage customers. In general, banks are not interested in having a ton of foreclosures on their doorstep. Try the best you can to work things out with them and don't give up trying to keep your house. Convince them you can and want to stay.

I agree with Barbara

Bank does not want a foreclosure if you are not receiving a postive response go to local branch discuss with them or another customer service rep. I also recommend contacting Presidents office lender amazing you might receive response from their office.
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Hi Michael
Communicate with your mortgage lender at once. Discuss with them if you can set-up a partial mortgage payment plan. Because you are 3 months behind, it would be difficult for you to refinance since your credit score is drastically reduced.
If your mortgage payment is behind 120 days, the bank might elect to begin the foreclosure process by filing a noticed of default. From that time, you have only 3 months to bring your payment up to date, otherwise the lender will file for Noticed of Sale, which is the final step to foreclosure.
Call your lender today and discuss with them all the possibility to bring your account up to date.
Good Luck.
Barbara