You won't win...

• You won't win if you ignore the letters.
• You won't win if you dodge the phone calls.
• You won't win if you refuse to pay.

The banks will always win! 

If you are faced with a possible foreclosure on your hands then there are things that you can do to fix your situation, but ignoring, refusing and dodging are not on the list. 

First, lets just for arguments sake that you are the very beginning of your long road.  Let's say that you have missed a few payments and you are just starting to get the "not so nice" reminders.  What should you do? 

CALL!

Call your bank.  Find out if they are offering any programs that will allow you to catch up on late payments as well as continue to pay the current month mortgage.  Banks are offering late payers up to 18 months to rectify their situations.  This is like resigning a promissory note  and should not be taken lightly because  you are agreeing to new terms and by defaulting again could mean losing your home faster.

A Forbearance Agreement - This is an agreement that the lender could or might  reduce or even suspend payments for a specific period of time.  Don't get excited yet - these payments are usually only suspended for about three months possibly a bit more.   This is a way for people who have experienced a natural disaster, short-term illness, short-term unemployment, or a pending sale of the property.   The lack of payments are not forgotten - in actuality the the suspended payments are added on to the back end of the loan.  The only way I would recommend this is if you are selling the property and you know you will be able to pay off the loan.  This is not in my opinion a way to catch up - I only see it as digging you deeper.

Sell - I can not be more blunt than that.  Sell your property and possibly make a few dollars back and save your credit.

By ignoring or dodging you are not helping your situation, I don't think that I have ever heard a bank say "oh, we can't foreclose, the homeowner won't return my calls, Darn!"