Well, I've come to the conclusion that nothing will get done in a reasonable amount of time if I'm current. My first attempt at modification was denied back in early 2009 because I wasn't behind. I was then told to re-apply through HAMP/MHA.....and that's were I've been for the past year. Like everyone else, my file has been "under review" with the underwriter forever. So here is my question.....do I stop paying entirely? Or do I continue to make partial payments to show that I am at least making an effort? Over the past years I've taken loans on my 401k, from family members, and I'm carrying balances on my credit cards.....but now I'm done. It's time to pay those down. Ideally I would like to get modified and stay where I'm at, but my wife and I have already come to terms with our situation, so if we end up leaving and renting a place somewhere, so be it.
So, pay partial? pay nothing? Should I wait until I'm 90-days behind and then short sell? I've heard people staying in there homes mortgage free for 8-12 months during the short sale process....that would be nice! Any advice is appreciated.