This question - Is it Immoral or lacking in integrity to STOP paying your mortgage?

This question has been asked over and over again. I'm not here to give an answer.  I do know that in my communities of Tracy and Mountain House, CA the real estate market has taken a 50% dive in the past 3 years. 

Numerous home owners have asked this question.....

Here are a couple of things to consider....

1) The homeowner didn't borrow money from grandma, friends and then say "Sorry not paying you and you can't have anything of mine."

2) This was a bilateral contract -- the BANK agreed to loan the HOMEOWNER money, using the HOME as collateral.  What does that mean?  It means - as long as the homeowner pays the bank they get to keep their house.  If the homeowner STOPS paying the mortgage the bank get the house.  (aka Foreclosure)

We can modify that agreement via a Loan Mod or a SHORT SALE. Either of these options modify the agreement, as the homeowner is trying to renegotiate the original agreement.

I'm not going to pass judgement, I do know that there are tons of homeowners in Tracy and Mountain House   contemplating a Short Sale, Loan Mod, or Foreclosure, that desperately need some advise, compassion and direction.  The "fear factor" for them is at an all time high.  

I'd love to hear your thoughts on this -- weigh in. ---