What will happen if I stop paying my second mortgage and my home is currently worth less than my first mortgage assuming my first mortgage is kept current?

The second will foreclose on your Property. To avoid the situation you must consult a mortgage firm who would assist you in your debt settlements. Why would you stop making your payment?

The value of your home should go back up when the economy recovers. The value of your home has nothing to do with your monthly cash flow Why would you ruin your credit for 10 years, when the value of your home will recover in 2-3 years. It just doesn't make sense.

Pay your bills as agreed.

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