Avoid an Auction Strategy:
Active Income - Less than a year Delinquent
Work directly with your lender to seek any opportunities to bring the loan current. Lenders often can provide a forbearance which brings loan current by moving missed payments to the back end of loan. Modification is also an option at times which restructures the loan completely.
Benefits of Forbearance/Modification
Brings Loan Current
Immediate makes loan current and stops any foreclosure action
With forbearance, you will have the opportunity to move delinquent payments to end of loan.
With modification, you'll have the opportunity to change the loan terms and work a loan that is more favorable to your payment ability.