That about says it all... AVOID FORECLOSURE!
If you absolutely positively cannot avoid it, it's not the end of the world. Life goes on, and there is no such thing anymore as debtor's prison. But.. there's no question that if there's anything you can do to avoid it, your life will be much better for it. The possibility of a judgment being filed against you and following you forever is not an appealing prospect.
You will see lots of information out there about things like loan modifications, special government programs like HAMP and HAFA, forebearance, repayment plans, partial claims, mediation, a deed in lieu of foreclosure.
We want to ask you a simple question. Do you have firsthand knowledge of anyone who's ever accomplished any of these? Funny thing. Neither do we... and we have talked to hundreds of people in this situation.
The alternative to foreclosure we HAVE seen work is a "short sale", where the lender accepts less than the mortgage amount to allow a sale. We have been successful many times in achieving short sales. It is tougher now than it ever has been because banks have become less and less willing to do short sales. We have, however, had many successes in getting people out from under houses. We have a dedicated team that brings years of experience to fight for you. If a short sale is right for you, don't attempt to do it yourself.
Call us and we will see if we can help YOU.