Sparing myself sifting through the bickering, I"ll just throw this example out there.
You have a loan from 10/2008, $577,500 @ 5.625%
Your payments (without HOA, Prop. Taxes, MR"s, etc) are a little over $3,300 per month.
Fast forward to 10/2011...
You owe (approx) $553,000 on your...