Help! My mortgage is adjusting!

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Q: My mortgage was fixed for five years and is set to start adjusting in five months. I talked with my mortgage broker and she said that my payment will go up by about 40 percent at that time, which I certainly cannot afford. She ran some comps and told me that I owe $100,000 more on my home than it is currently worth. Her advice was that I should buy another, lower-priced home right now, and then just stop making payments and let the bank foreclose on it. Should I walk away from my home? A: No. The only thing you should walk away from right now is your mortgage broker. Mindset ManagementI commend you for staying conscious of what's going on with your mortgage and trying to make proactive efforts to handle the upcoming mortgage payment adjustment in advance. Those who wait until the adjustment has already happened end up in desperation and panic -- not a fun place to be. Owning a home is a very grown-up thing to do, and if you are sufficiently mature to own a home -- eit...