These types of mortgages are relatively non-existent in the U.S.; however they are relatively common in Canada. Maybe they are just more forgiving up north.

Bank of Montreal's Take a Break Option

The information below comes directly from the Bank of Montreal's website.

Skip a Payment

When you need a financial breather – whether it's the arrival of a new baby, the need to care for a sick relative or sudden and unexpected expenses – you have the option of skipping a mortgage payment.

Take a Break Option* Take a Break lets you skip up to one month of mortgage payments (principal and interest) in a calendar year. The amount of the skipped payment, together with the balance of your current mortgage, cannot exceed the amount of your original mortgage.''

You can choose to skip:

One monthly payment. Up to two consecutive bi-weekly or semi-monthly payments. Up to four consecutive weekly payments. Family Care Option*' Skip up to four months of mortgage payments (principal and interest) in a calendar year if either you or your partner are on leave from your place of employment to care for a new baby or ailing family member. You can choose to skip:

Four consecutive monthly payments. Eight consecutive bi-weekly or semi-monthly payments. Sixteen consecutive weekly payments. Other Things to Keep in Mind: If you use the Family Care or Take a Break option to skip a payment, your payment will not be affected during the current term of your mortgage. Instead, interest is added to the principal balance. You will pay more interest, so it is important to consider these options in light of your individual financial circumstances.

You can choose to pay back your skipped payments at any time, without charge and without affecting your current mortgage prepayment privileges.