Renegotiated Loan

You had a loan. You missed two payments. Your lender offered to repossess your home, kick you out entirely, or...renegotiate: "No interest for 2 years, but then a 200 basis point higher rate for at least 5 years. Then we go back to terms as they were. Deal? Or no deal?"

Deal. You really don't want to live in your station wagon, down by the river.