I just want to clarify, do you want to actually keep the house or would you rather walk away, at this point?
There is, unfortunately, no way of knowing if or when the bank/mortgage holder will move forward with foreclosure. You could receive a Notice of Intention to Foreclose at any point. After that, the bank/mortgage holder would, probably, quickly move forward with a legal foreclosure action against you. The legal process could continue for another year or more (after you actually receive the Notice from the bank). Sadly, because there is no exact timeline for the bank to follow, you could be stuck in limbo for quite some time.
If you are looking for more immediate closure, you could have some options to proactively negotiate with the bank. Your options would depend on whether or not you want to keep the home. If you do want to keep the property, you might be able to negotiate with the bank to bring the payments/mortgage amount down to an amount that you can afford. If you want to walk away from the home, you might benefit from bankruptcy.
Your options would depend on several factors (including current income, the current value of the property, the amount of the mortgage balance, your total debt, and others), and, if you want to be proactive, I would highly suggest consulting with an attorney.
Please feel free to contact me if you have any questions about your other options.
Please note that the information provided here is for general informational purposes only, and should not be construed as legal advice as to specific facts or circumstances. You should consult an attorney concerning your particular factual situation and regarding any specific legal questions you may have. No attorney-client relationship is created merely through the exchange of information via this web site. If you would like a legal consultation, feel free to contact me.