A homeowner who owes a mortgage obviously is required to pay the mortgage payments. But there are other obligations under the typical deed of trust and note. For example, the borrower/homeowner may be required to keep insurance in effect and may not be permitted to sell the property without paying off the underlying mortgage. Failure to keep insurance or trying to sell “by owner” without refinancing the underlying obligation can result in a lender “calling” the note which means demanding the note be paid in full.
If your mortgage company has notified you that you are in default under your mortgage, and you cannot cure the default, you should contact an attorney for assistance to know your options.