[Bo Jangles]

...mortgage anyway) ...continue to pay CC's, or stiff THEM, also? Same old story ... we bought at the top of the market, and it crashed ... we refinanced our ARM this spring into a 30-year at 5.75 but we owe $230K ... comparables in the neighborhood are going for about $170K (and that's after being on the market for a YEAR!).We're underwater in our mortgage, then, and getting divorced (separate issue not related to the house). Neither of us can afford to keep the house by ourselves (hell, we have had to STRUGGLE to keep current with BOTH of us paying into it ...).We're headed toward "foreclosure/short sale" territory, but so far figured that we'd keep paying on our four (4) credit cards (owe about $7K there) to keep THEM current, and cruise along "rent-free" for about 4 or 5 months or so (however long a foreclosure eviction takes) and save up so that each of us has a "nest egg" for paying rent and deposits on new places to live ...HERE'S THE QUESTION: My buddy at work says, "Hell, if you're not going to pay the mortgage, stop paying the credit cards, too ... your credit is going to be 'toasted' anyway, and then you can call them in several months and negotiate away some of what you owe."Is he full of it, or does he make some sense? He's a "Dave Ramsey" disciple, so he usually knows what he's talking about ...