For the un-intitiated, this is the last situation your would want to find yourself in. Home Loan Arrears is the situation where the agreed repayments for a loan is behind, and the payments have accrued over the loan amount agreed upon in the original Loan Agreement.
If the monthly interest repayment is $1500 each month and you have missed 2 monthly payment. Then your Home Loan would be $3000 in arrears.
There would normally be legal and other fees associatted to a Home Loan Arrears situation.