It depends on what your situation is...if you are behind on your mortage due to hardship (i.e., illness, loss of employment, loss of tenants prior to lease expiration), your lender may allow you to apply for a hardship/forebearance. This may either temporarily reduce your monthly payments or the lender may "forgive" those delinquent payments and allow you to continue your regular payment schedule after the agreed upon hardship period ends. You should 1. Review your current situation...why are your behind on your mortgage??...2. Contact your lender immediately when you know you will be unable to make payment(s)...3. Document everything...what your lender sends you & each conversation you have w/the lender and it doesn't hurt to review the original loan docs for info on your lender's policy regarding applying for hardship status...Time is of the essence, so act quickly...defaulting on your mortage can alert your lender to begin the foreclosure process and your lender will notify you of their intentions to sell your property. But, there are ways you can avoid foreclosure if you act now.
Hope this helps & Good Luck
Diane is right, your note will tell you when you are considered to be in default. The actual foreclosure procedures vary from state to state. If you are in a judicial foreclosure state, it takes a lot longer to complete the process than in a state like CA where we for the most part follow non-judicial foreclosure procedures for home loans.
I would highly recommend that you contact your lender a.s.a.p. if you have not already done so. One of the biggest mistakes that people make when they get behind with their payments is that they ignore phone calls and mail notifications. You have to talk to them and let them know you want to work with them on a payment plan. I hope this helps and good luck to you.
If you are 2 months behind, you should contact your lender for guidance, assistance in getting current.