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Your mitigation is probably an attempt to have your mortgage reduced. You are telling the bank that you can not afford to pay the old amount. You need to pay a smaller amount of money. Whether or not the bank will go along is a different matter. However, if you stop paying anything, they probably will not go along. Why should they do anything for a deadbeat? It probably will not do you any good to show them you are a deadbeat. It would probably make more sense to show them that you can pay them something. It would be to their benefit to let you reduce your payments because then they can get money from you. So it would probably help to pay something on your mortgage.

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15y ago

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