Instead of refinancing my house should i just not make payments?

Dianne
I have a high interest rate mortgage, but I am current on it. I owe about 90% of the value. Since the gov't is offering a mortgage refinance plan to lower the rates, maybe I should not make payments for 90 days?

Bobette
Good idea. Go for it. And if it's a nice house, drop me a line so I can bid on it when the bank auctions it off..

Johnna
I wouldn't advise it. It will really damage your credit score. If you can afford to pay it, keep paying it. If an offer comes along to refinance, then refinance for a cheaper %.

Elane
You are going to have to check & see and you don't have some kind of penalty on that OR down the line some kind of ARM that will reach out and knock the hell out of you.

Liberty
It is always best to protect your credit rating. People who get more than a month or so behind on their mortgage rarely if ever recover.Why not try negotiating a better rate with your current mortgage company?

Ivey
You're on the right track Einstein... Nah, you don't want to refinance ; rather, just go at least 4 or 5 months without making any payment. Ya have to be adamant about this too ; don't back down..