Yes, it's possible to lose your home if you don't keep up with your home loan repayments. Your lender can sell your home to recoup the money they lent you. This is called repossession.
Most lenders are keen to work with customers who are having trouble before things get to this stage. That's why it's so important to contact them early.
However, if you won't be able to afford your mortgage repayments for the foreseeable future, then you may need to consider other options, such as getting a boarder or selling your home.