In today's market place foreclosures are rampant due partly to the amount of adjustable rate mortgages that were given to people who were then unable to refinance at the time the mortgage started to adjust upward . Match that with declining home values and it becomes a disaster or an investors heaven. If you or someone you know is behind on mortgage payments the first person you should call is your mortgage company and ask to speak with someone who handles their REO division or default division. At this time tell them your ability to repay and they possibly may be able to offer you a forebearance or loan modification depending on a great deal of circumstances which encompass the entire process. Be prepared to fill out  paperwork and get it back to them very promptly . If there is no ab... 02/15/2007