"Given i dont have to sell, want to sell, and am not being forced to sell, id say in a max of 15 more years ill own the house regardless of what its "worth" and be receiving rent till my death bed. I bought in Dec 2007. "
Yes that is correct. You can pay an asset off that is dropping in value. It is called negative equity.
You may still be happy, sure. Many would say it to be a poor financial decision. A family decision not an economic one.
