It may be a loss of a job, or a cut in your pay rate. Perhaps you have just gone through a divorce, or had a major medical concern. Whatever the reason is, you have fallen behind on your mortgage payments. When this happens, often times homeowners are put in the no-win situation of paying all their other bills, or paying their mortgage. There is really no “right” answer to this question, because whichever bill doesn’t get paid has the possibility of leading to negative consequences. If it is the mortgage that doesn’t get paid, the bank will begin contacting you to find out when you will make your missed payments. Homeowners often will ignore these calls, because they know they cannot make the payment in the foreseeable future. Perhaps you are able to make some payments, so you are always a month or two behind. Eventually, you fall behind to the point that the Bank is ready to threaten you with foreclosure.