That’s what I am doing - paying it off, but it ain’t pretty. Nine years ago I moved to SW Michigan for a job and paid what I thought was a fair price at the time for a very modest house - now I would be lucky if it would sell for half of what I paid. Chump change to some people, but not to me. I retired from my job and would like to move, but it will be at a huge financial loss. So, yes, Trapped does come to mind.
There was a lot of fudging of numbers with home appraisals; I was fortunate that I bought prior to the bubble. Friends buying comparable properties a few years later were paying nearly twice as much, and one has already lost the home. The housing in the NYC metro area won’t be recovering for the foreseeable future, as jobs and taxpayers continue to flee; in response, the government has trafficked masses of Asians and Hispanics here to keep housing, classrooms, and store aisles full - a completely false economy. Anyone I know who lost a job and found another is making a lot less money (even if they are doing the same work); people had no idea how fast this area would collapse as financial jobs left for Asia and the ripples went outward. The municipalities have little money left after dealing with payrolls and pension obligations; the government worker caste is the last group making money, but at huge expense to the remaining homeowners...