I am very sorry for those who find themselves in this predicament. I guess too many people have no valid common sense. I warned my daughter that 2006 was not the time to buy because I knew what was surely coming, having been a real estate broker for over 30 years, retired. Even she did not heed my warning, and her husband took out an interest only loan!!! I about lost it when I found that out! Bright as they are, they have no sense when it comes to money.
Ouch!...a financial pain made worse by knowing that mom was right.