Is paying the mortgage payment necessary? Postponing the pain….

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.

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