You'll be fine as long as you don't have to move, and can hold on to the income stream that makes the payments on that house. Should you find yourself in a position of having to sell, you'll be up against lenders trying to unload foreclosed homes with all kinds of sweet deals for buyers willing to take them off their hands. During the last housing decline of the early 80's, they were even paying moving costs for people who would take these white elephants off of their hands.
There's a heck of a lot more constructed housing stock out there than there was 25 years ago. Much of it is financed to the hilt.
A key point. These 'creative' solutions, such as loans which initially have interest only payments, have yet to be tested by a tough market.