I am 3 months behind and the bank says I can go into foreclosure. If I make payments every two weeks can I still loose my house?

Foreclosure is the process by which the bank recoups its losses on a loan secured by the property. When you purchased the property you signed a promissory note, (a promise to pay) and a mortgage (if I don't pay then you can have the property as collateral). Foreclosure is the name of the process that the bank goes through to get their money. Most go straight for the property (called an in rem procedure) because it is eaiser and requires less proof. They can also go after you personally (in persona) but that takes more time and requires adherence to more stringent rules. If you are three months behind, the question is will the bank take less than the 3 months payments? If they accept the payments than you have a chance to save the house. If they don't then you may want to explore other options and have a back up plan.