Yes, but most people won’t believe it. And banks will continue to call and threaten people. It would take a large percentage of people to stop making payments for this decision to have a major impact. I doubt that will happen until the Mugabe style inflation arrives.
Umm, as soon as grifters found they could buffalo the bank away after defaulting on their mortgage, everyone would know.
Payments on a 2008 mortgage would quickly end up seeming very small as hyperinflation took effect. Both wages and prices would swiftly rise, but the increase in wages would not keep up with prices. Although price increases would cause some hardships, monthly mortgage payments as a percent of income would quickly shrink - freeing up more income for other costs.