Here are your options if you are currently behind or think you are going to fall behind on your mortgage payments

Forbearance Agreement - This is a payment program that is set up and approved on at the bank level.

* 1/2 of the total due within 7 days of acceptance

* 1/2 of the total due in payments over 6 - 12 months

Loan Modification - This is an internal refinance with the bank.

* 1st payment due immediately

* Remainder of amount owed is added to the end of the loan

Deed In Lieu - This is a voluntary foreclosure. Your basically giving you house back to the bank.

* Voluntary foreclosure is a "foreclosure" same thing and will stay on your credit for 7 years

Last Option Short Sale!!!