[PeterPrinciple]

I FEEL LIKE A COMPLETE IDIOT, I ALWAYS PAY MY MORTGAGE ONTIME AND HAVE EXCELLENT CREDIT. HOWEVER, THE ECONOMY IS GOING TO EVENTUALLY CRASH AND WE’LL ALL LOSE OUR HOMES, SO I CANNOT FIGURE OUT WHY I AM PAYING RATHER THAN JUST STOP PAYING AND SAVING THE MONEY?

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LIfe is full of choices, you can be like them if you want.

[Positive]

I seem to remember reading that during the Depression, the banks in the Detroit area gave forebearance on all the home mortgages because of the huge unemployment situation in the Auto business.

So folks such as yourself got the same break as everybody else.

Having said that, contrary to what some here say, the bank loaned you money, but not on your word, they loaned you money on their opinion of the value of the collateral (the house) and your income and payment history.

Let's say there is a nice house in your area available for $250,000...call your bank and ask them if they will loan you the $250,000, just on you good name and word, without having a lein on the house and see what they say.