Foreclosure happens after you have missed payments on your mortgage. Your mortgage company will first write and inform you that you have missed a payment and then the letters will become more insistant. This will eventually lead to the threat of them hiring a lawyer followed by them hiring a lawyer if you still have not made any payments. The lawyer will then tell you that they need the balance of you mortgage paid or they will have to sell your house. Usually after about 30 to 60 more days if they have not heard from you they will notify the sheriff to set up a sell date. That is foreclosure in a nut shell. Remember the mortgage company really doesn’t want your house back if something should happen that starts you down this path contact them immediately to see if something can be worked out.