As homeowners, we all have had felt the devastating effects of the real estate boom and bust or the economic collapse which has the most negative effect on our home mortgage and our income. That said, when there is a real estate Boom BUST or an economic collapse, which historically in the USA has happened every 7-10 years for the last 100 years, then one really needs to consider what a conventional banking mortgage really is. Well, the first 10 years of a mortgage is an interest only payment. What that means is that during the real estate BUST everyone always falls into that 10 year interest only mortgage and the principal is still 100% unpaid. This means you have 1, 2, or 3 choices.