"We bought in 2007. The market price of the house had already dropped $50,000. We (and our realtors and loan agents) figured it was a good time to buy. Since that time we have lost $150,000 in equity and are $53,000 underwater. I have an interest-only loan. All I want is the chance to get a refinance at today’s low rates, so that I can keep my credit in tact, and pay on the principal. We have not received any raise in pay since we bought the home, but our cost-of-living as gone up with inflation. I’m surprised we are still hanging on. We have put off some medical items, no new electronics or cars, have postponed orthodontic and dental procedures, and are living on a restricted budget. I’m hoping something positive happens soon."