[hinckley buzzard]

PS. What your home is worth today is irrelevant unless you sell it today.

Or, unless you have a funny money mortgage coming due, like the guy in the story, whose payments are going from 3000 to 6000 per month. He'd probably like to refi that into a normal loan but guess what. He can't because the house's market value is now so much less than the amount owed.

If these people just had to sit tight and not sell or move, and everything else was staying the same, your simple minded response might apply. Welcome to the real world where people actually sometimes have good reasons for getting upset.

[Porterville]

"Welcome to the real world "

Why not refianance? Because that word doesn't fit in your world... or your reason.... or your understanding?

[bondjamesbond]

If these people just had to sit tight and not sell or move, and everything else was staying the same, your simple minded response might apply. Welcome to the real world where people actually sometimes have good reasons for getting upset.

Stupid people.

Anybody who buys a house on the assumption that they will be able to get a favorable finance rate so they can afford it a couple of years down the line is just being stupid. Stupid people are parted from their money every day.