Forebearance is a wonderful program that allows you to keep your home. Make sure your bank puts it in writing and make sure you stick to the terms of it. 1 day late could void it. I wish you luck in working things out.
A forbearance is the norm and the more favorable avenue to avoiding foreclosure. Usually a forbearance will take as many as three payments and move them to the end of the mortgage term and adjust your current payment upward for a period of 2 years to cover the remainder of the amount you are behind. If you stick to the terms everything goes back to normal and you have not destroyed your credit or ability to obtain future financing.
Buy a home after foreclosure expert