I could save up over $20k in a year if I decided not to pay my mortgage, which would be a great way to pay off my other debts. Then at the end of the year I can resume paying my mortgage and be in a much better financial situation. Thanks banks for bailing ME out!

You can try and make it sound like a wonderful thing but it's more of a nightmare trying to open up communications. If you propose a questionable argument or a legal right, you'd might as well plan on leaving.

I lost everything and it was no day in the park.

Printing money Helicopter Ben style is one thing. Precision dropping it to bankers with mechanisms in place to keep it from getting out to anyone else ala the Fed exit strategy: http://www.federalreserve.gov/newsevents/testimony/bernanke20100210a.htm

is an act of war. Homeowners are simply returning fire at those who fired the first shot.

I say "hats off" to the non-payers - and may more follow their lead. Those of us who have lost jobs and can't find work through no fault of our own, who are not getting bailed out the way those who created this problem are, have every ethical and moral right to use every means to survive.
Why should the rest of us pay for the mistakes of Goldman-Sachs, et al, who rightfully should be put on trial as economic terrorists for the immense suffering they have caused the world over and not coddled with bailouts?

So, not cool.

I am one of these people and I'm proud of it. Screw the banks who have screwed our country. I'm gonna take my money that I've been saving over the last year and go get a nice rental just down the street for 50% of what my mortgage was. More and more people are going to be bailing on their homes as time goes by. I'm documenting my story on this great forum called LoanSafe.org. There is a section with thousands of people like myself that you should visit if you wanna walk away with me.
http://www.loansafe.org/forum/

So what happens after you fail? How do you/or who will let you rent a home after you are booted out flush with cash?

Great idea for the me first, where's my piece crowd. For those that have absolutely no other choice, I wish you well.

If you're flush with cash you can pay a year upfront and most any landlord will rent to you regardless of your credit.

I understand those that have no other choice. Good luck to all of you. For those doing it because they want to take advantage of the situation I say FU. Why? Because you aren't stealing from the banks. You are stealing from the taxpayers who have been flipping the bill for the last 3 years to keep these banks solvent. So go ahead and only think of yourselves. The selfishness of you is the same selfishness of Wall Street that lead to this mess. Grow up people and get a clue. The world isn't just about you.

I've been debating this over sleepless nights for weeks. I can afford my mortgage and it's fixed but I need to stop payin for 6-months to get back ahead of other debt. I admit I have spent unwisely at times but thats changed and now I just want to get back to even. Having my son made me understand it is just about us and I know that CC comapnies and lender screw us in a second and don't care if I ever get out of debt...think I'm going to do it.

So what happens after you NO MONEY? How do you/or who will let you rent a home after you are unable to pay with cash. How the bank can help you on this? Thank for you to share this post, keep updating.