Q: I got an interest-only loan on my house three years ago, and while I still have two more years on this loan, my house is upside down on what I paid for it versus what I could sell it for today. Is there any help for people like me with a bad loan?

A: First things first. There is no such thing as a "bad loan"; there are just improper uses of loans.

I have never met a loan I couldn’t envision a legitimate, proper use for. Don’t believe the hype that says if you don’t have a 30-year-fixed-rate mortgage your sky is necessarily falling.

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