NACA statement is not entirely true.
Absent a voluntary forbearance by the lender, a Chapter 13 bankruptcy is the only alternative at this point.
A Chapter 13 bankruptcy would immediately stop the foreclosure action. It could permit you to set up a plan to reinstate your mortgage arrearages. In other words, it could allow you to pay the arrearage over a 5 year period.
The Chapter 13 bankruptcy may also be used to strip away the 2nd mortgage if the first mortgage equals or exceeds the value of the property.
It would be best to retain an attorney. If you cannot, you will want to purchase the forms on line and file them yourself prior to the sale. After you file the petition
, you will need to notify the plaintiff.
I hope that the information which I provided was helpful to you.
Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.