Nathan-The question we should be asking is "How can I be more like a bank and less like a schmuck?"
Had a friend that during the recession pull a magnificent stunt. She decided to stop paying her mortgage. This was in an area no one was buying , at all.The bank called and threatened. They sent people out to work with her. She just played like she was on board with the bank , never signed anything and then backed out each time. Finally the bank said that they were going to take her house away. She said "Go ahead but Im still going to live here and squat in my own house F off".
During that time she saved each of her payments to the final tune of 25,000 dollars. Enough for a down payment on another house easily.
She called the bank and said that they could come take it ( her husband gutted it, they were planning on a remodel anyway) and then the bank didn't want it after they saw it gutted. Absolutely nothing was moving in the area. So she tried (planned and fake) to force it back on the bank. lol. The bank jumped though hoops, forgave the missed payments and rearranged a new mortgage 2/3 less than what she was paying monthly with a lower interest rate. She made 25,000. The remodel cost 8,000. She always said that she was going to do her part to make the bank pay since taxpayers are the ones who bailed them out.
Off the topic but reminded me of the story.