I've seen several videos on Youtube by attorneys, etc. who advocate "threatening bankruptcy" when trying to achieve a foreclosure alternative with a mortgage servicer. Off the top of my head, the only problem a bankruptcy would cause the servicer would be the inability to pursue the borrower for a deficiency judgment after foreclosure sale. What other positive effects for the borrower, and negative effects for the servicer does a bankruptcy have (other than the obvious, wiping out the mortgage debt obligation)? I should mention that I'm not interested in delaying or prolonging foreclosure.