Yep the example was poor.How is it that in 7 years that couple...

Yep the example was poor.

How is it that in 7 years that couple have paid only $2000 off their mortgage and their property value hasnt moved up even 1c.

Where do they live?

Then somewhere along the way they consolidated "their debts" into one loan.

What debts did they have before they consolidated?

They never did say...obviously not hair and makeup

but maybe...

A maxed out CC
A Harvey Norman interest free TV
2 year interest free reverse cycle aircon.
And his teeth looked as if he smoked a coupla packs a week.

So if they owe $207k and the house is worth $209k......why not sell and go and rent?

They are paying 13% p.a.....tells me they werent repaying any of their other debts well before the mortgage became an issue.

They were happy to sign the loan docs 7 years ago but now cry wolf because they cant afford the repayments....well sell.....simple.

I dont like to see others lose their home......but that doco was an embarrassment to 60 minutes.

Peter Overton....u can do better than that

....even if ya MRS has man hands and limited facial expression.