According to reporting by Bloomberg, lenders are trending towards looking the other way when homeowners become deliquent on mortgage payment due to a glut of pending foreclosures. Click through for the article →
http://www.bloomberg.com/apps/news?pid=20601109&sid=aefAJU_88vfs&refer=home
This is not advice to stop paying mortgage payments. Obviously, lenders act in their own self-interest, so this is probably a business decision based on the volume of deliquencies and foreclosures. It would seem that sitting on a delinquency would just postpone the pain and make it worse by adding penalties, interest, late fees, etc.
