Lenders don't want to foreclose. Ask your Lender for their "Short Sale" package and you will need to write a hardship letter and disclose your financial situation. List you home as a Short Sale in the MLS with a Realtor who has some experience in Short Sales. You can usually stall a foreclosure once you engage an attorney to act on your behalf.
Jim Soda 941-809-7759
Prudential Palms Realty
Sarasota-Lakewood Ranch-Longboat Key
JimSodaGroup.com

Dear Michelle,
Please Do the Following. 1.) Go to HUD.Gov Website. 2.) Click on "Avoid Foreclosure" which is on the Left Hand Side Column going from Top to Bottom(Red). 3.) Click on "State"(Florida). 4.) Click on "HUD-Approved Housing Counseling Agencies" in the Center, in the Middle of the Website. There will be a Long List of Agencies(Counselors) that can Help You & that You can Trust. Ask them for the FHA Secure Program & AVOID THE SCAMS!!! If You Have anymore Questions, kindly Give Me a Call. My Name is Victoria Lewis & I am the Branch Manager for Jacob Dean Mortgage. Check out My Trulia Profile. My Website is TheCannaeGroup.com & My CELL is 571-521-9156. We do Loans in 26 States in the USA including Florida!!! We do Residential/Commercial/Hard Money. We also Offer CONV/FHA/VA, etc. I Have over 3 & 1 Half Years of Mortgage Experience. Only do a Short Sale if all else Fails!!! Hang in There & Good Luck.

Lenders do not want to be in the real estate business. They don't want your house. If you cannot continue to pay the payments, and all attempts to renegotiate the payments have failed, a short sale would be the next move. In a short sale, the lender will often accept a lesser payoff amount and write off the difference. As your realtor, I will work with you to determine the best possible price that will get it sold quickly.

There are a few options that may work; short-sale or offer the lender a deed in lieu of foreclosure.

Michelle, if you have already tried to work out modifying your loan with your Lender and it won't work at this point, then I would suggest that you contact a Short Sale Specialist in your area to advise you on the possibility of a Short Sale. A Short Sale is a fabulous alternative to Foreclosure. If you're not aware of anyone and need some help, please contact me and I might know of a specialist in your area.

DISCLAIMER: BASED on what you stated if you are behind in your payments, cant afford the property, most likely contact an agent have your property listed short sale/ preforeclosure. Sorry to hear this.
http://www.lynn911.com http://www.homes-for-sale-dallas.com