[quote=meadandale]I’m thinking of calling Citi Mortgage and telling them that I don’t want to pay my mortgage anymore if they don’t write down my principle at least a hundred grand. Otherwise I’ll just hand them the keys. Think it will work?[/quote]

It only works if you don’t have a significant downpayment and have no assets to boot.

In other words, if you were actually responsible and put a non-trivial downpayment, chances are that won’t work. And if you refinance and turn it into a recourse loan, and you have assets, who knows if they go after you.

In fact, that might be a great business idea. Collection agency to collect on recourse loans.