Mortgage Foreclosure: Should we stop paying?

We bought our house in 2006 (it was built in 2005). We need more than $ 260,000 hüpoteek.Meie our house is now worth more than $ value 160000Kinnisvara collapsed in our neighborhood (which includes a free house, and many of our streets). We have a variable rate mortgage. Our mortgage payments will increase in February 2010.Me can rent a house in our street for half the price of our re mortgage makse.Me “both busy. We have no credit card võlg.Me do not need credit. We did not particularly if our credit is being undermined by a lack of nearby hüpoteegimaksed.Meie failed to make mortgage payments for eleven months. He received a foreclosure notice in the mail. The lawyer told him he can still live in the house at least four months (without pay). Our state laws prohibit the lender to sue a landlord who fails to hüpoteek.Kui we stop paying our mortgage, we can save at least $ 20 000 next year. Then we can move across the street and rent. Then we get an FHA loan for three years and re-buy the house a fair hinnaga.Nii why not just stop paying our mortgage? What do you think?
I was wondering …. True, but I know almost nothing about the financial problems caused by the collapse of the owners of the house has to do with the inability to pay their mortgages after they have increased prices, why not simply reduce your monthly mortgage payments by increasing the years of the loan. Say …. grant a mortgage of 20 years to 30 years. Banks are likely to increase your overall return on their investment, and the owner of the house would not default.Mida I do not understand here?

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