Stop paying 2nd mortgage?

I am considering not paying my 2nd mortgage. 1st is serviced by Nationstar and owned by Fannie Mae (178k). 2nd owned and serviced by Suntrust (38k). The home value according to Zillow is 163k (accurate from what has sold around me). Has anyone else stopped paying their 2nd mortgage? I plan on not paying and seeing if they will settle for less after 6 months to a year. We will see what happens.

what could possibly go wrong?

However, even if the second lender forecloses and sells the home for less than the balance on 1st and 2nd loans, the law may not require you to pay the difference or deficiency balance provided the second mortgage is a non-recourse loan.<br /><br /><br />
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http://www.cheap-credit-cards.org/mortgage/foreclosure-help

Nothing will happen for a good while. I will have to wait about 6-12 months; see what they do. Then offer a settlement when I think the timing is right.

lol at credit score. what is it good for?

if you have the cash to pay for everything, what is it good for?

stephen