The road to foreclosure

How did David Parkes and Kathy Sakry's mortgage double? With each refinancing, they took out cash to spend and pay bills, and rolled high closing costs, fees and property taxes into their mortgage.

Terms: 30-year fixed-rate mortgage at 6.75 percent

Closing costs: $2,346

Principal and interest payment: $389

Terms: 30-year adjustable-rate mortgage at 6.38 percent for the first two years

Closing costs: $3,990 including a $1,682 origination fee

Cash back: $10,505

Terms: 30-year "pick-a-payment" negative amortizing adjustable-rate mortgage that started at 6.51 percent

Closing costs: Approximately $4,000, including a $2,054 yield-spread premium and an unusually high $700 title insurance payment

Cash back: $12,036

Interest-only payment: $332

Interest rate: 30-year fixed-rate mortgage at 7.625

Cash back: $5,903

Principal and interest payment: $793