There are some real estate attorneys who present the mortgage or the deed of trust to the buyers at the closing table to sign, and say "this is a long document that you can spend an hour reading if you want to, but basically it says that if you don't pay, you don't stay."

You have to pay your mortgage to get to keep your house.

Lenders don't generally want to foreclose on you. They will if they have to, because they have no choice.

But if you communicate with them, and tell them your situation, sometimes they can be a little more lenient and work out something to help you keep your house, or move under a little less stress.

Some of the things that a Lender may do, but not necessarily (check with your particular lender), are:

Special forbearance--If you have recently had an unexpected change in income or expenses, you lender may be able to work out a new repayment plan.

Mortgage modification--The lender may change the interest rate, or put the skipped payments on the back of the loan.

Short sale--The lender may agree to sell the property for less than is owed. This requires a lot of paperwork on your part, and is not easily done, but is possible.

Deed in Lieu of Foreclosure--You voluntarily give back the home to the lender.  You need permission from the lender to do this.

Cash for Keys--Sometimes lenders will give you cash to make utility and rent deposits to move out of the home. In exchange, you have to leave the property 'broom clean,' and there should be no damage to the home.

Again, communicate with your lender and explain why you are late on your payments.  Ask what can be worked out.