Where it is a rental your options are limited as if it was your principal residence. You should start buy calling your bank, ask for the home retention department, NOT collections and ask what they can do to help. Ask about a forebearance agreement which could hold off foreclsoure, your other choice is to sell it and if you owe more than it is worth ask about a short sale. As far as your home, they can not just take it if that mortgage is up to date. they can place a lien on it though for any balance after a foreclosure on the NC home.