They will normally prefer to have the money than to foreclose. The only time you might have a problem is if you have a lot of equity and you have been chronically late over a long period of time.

Just give them a call and ask what your options are. There are way too many foreclosures on the market, they don't want to take the house, so you should be able to negotiate a payment plan to get back on track.

Call your lender immediately. If you are only a payment or two behind and your lender has not hired an attorney to begin foreclosure proceedings you may be able to negotiate a work out agreement yourself. If you are successful then you have saved yourself some funds that can be used to get caught up on your mortgage. Just remember, don't waste a lot of time on this.
Time is not on your side right now. If you don't have something worked out within 1-2 weeks, then it's obvious that your lender is not serious about working things out with you directly.
The home foreclosure process can take anywhere from a few weeks to many months, depending on your state law and the method of foreclosure your lender chooses to use. Then immediately consult any reputed foreclosure assistance company for help. But keep in mind there are many predatory companies who are not what they appear to be. Beware of unscrupulous companies who are actually just interested in buying your house at a big discount, or attorneys who just want to take you into bankruptcy or companies that collect a consultation fee then do nothing for you. Some companies have the most experienced and well respected specialists in the industry whose sole purpose is to save your house, not buy it, sell it, or send you into bankruptcy. Do your homework, check their reputation and give them a call, speak with one of the professionals and you will be able to judge for yourself. In fact some of them offer free consultation.