If I default on my mortgage but do not want to lose my home, is there a repayment program I can ask my mortgage company to work with?
Call your mortgage company and request assistance. Most mortgage companies will work with you through a repayment plan called a " forebearance". However, realize this is paying a current payment plus a portion of the past due payments. Example, paying a payment plus 1/2 of a past due payment until you are caught up. Depending on the type of mortgage you have, your lender may have loan modifications or recast options available to you. This is where they take the balance due and recast the loan as if you were to start from scratch. Caution, if you have 5 years paid into a mortgage, a recast will go back to a 15 or 30 year term. So it is basically starting over.
Call your lender and talk to them. Be proactive, calling at the last minute is not going to help you. The more time passes, the less help is available.