I'm not liking all of folks losing their jobs and those getting pay reductions but that's the world we now live in. If you are struggling making your payments you might ought to consider a few options.
Option 1 Call your lender and see if they will work with you to get a principle reduction or a lower interest rate.
Option 2 Call a short sale specialist to help you sell your home before you get foreclosed on. If you have equity in your home, sell it quickly before you lose it (it's better to get something then nothing).
There will be a ton of foreclosure houses hitting the market this year, some will have great prices some won't (make sure you check on the value of a home b4 you purchase). My rule of thumb is offer full price or more if you gotta have it, give it a good shot if you want it and go for a deal if it's just another house to you.
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