What would happen if i stopped paying my
mortgage and allowed my townhouse to go into foreclosure? I currently pay a mortgage on an end unit townhouse in upstate New York and I live/rent an apartment in Philadelphia. What would happen if I simply stopped making payments on my mortgage and allowed the property to go into foreclosure. I could really use the additional $1800/month to help dig myself out of debt with my two credit cards and car payment. I understand this goes against all of the morals and ethics of my upbringing, but this property is about to go into an adjustable mortgage in April; as it is now, I can barely get by from one month to the next.Your input (minus the judgment) would be most helpful.
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