If the property is able less than the total amount owed to

 the lender (which can occur if property values have

decline since the homeowner took out the original loan),

 the lender can seek a reduction judgment, and the

homeowner will  not only lose the home of additional

debt, which would be the difference between what the

homes sold for auction and the balance between of the loan.

Mortgage lenders generally consider a mortgage to

 be in by default when payments haven't been made

 for a period of three months.