Debt forgiveness bonanza! Stop paying your mortgage and your credit card immediately!

In Bailout Nation, only the stupid honor their obligations.

Please consider:

1) California's latest mortgage foreclosure moratorium, wherein if you stop paying your mortgage, you will be able to live in your house rent-free for at least a year. Imagine the money you'll save! For you non-Californians, don't fret; federal pressure and bank incompetence mean you'll get a similar rent-free time period even without an official moratorium.

2) Let's Make a Deal on credit card balances. The story notes someone who got 50% off a few thousand dollars. I personally know of others who have gotten far more than 50% off significantly larger balances. If you carry a significant balance, call your bank and tell them you can't make any more payments. See what they offer, and then ask for more. If they don't give you a good deal, stop paying for a couple months and then watch them beg.

If you still are paying your mortgage or credit card balances, look around the room. YOU are the sucker!

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Happy Super Tuesday!