homedebtor n. A homeowner with an extremely large mortgage, particularly one that he or she is unlikely to ever pay off.
Unfortunately, for many people the word homedebtor is a more accurate word than homeowner. It refers to those people who are living in houses with "no skin in the game," little or no equity, and a mortgage they are not likely to repay, and may possibly not be able to afford.
Homedebtor (a.k.a. "recent homebuyer") is alsi defined thusly: Perpetual debtor/serf who will
probably never own the home outright, thanks to cyclical refinancing
(used to fund conspicuous consumption) and property taxes. —Patrick Killelea, "Housing Bubble Glossary," Patrick.net, August 12, 2005
In the end, millions of homedebtors will lose their homes, the homes they told everyone they "owned", the homes everyone told them would "be a great investment".
—Bruce D. Stewart, "US foreclosure rate soars 43%," belairhomesforsale.com, November 2, 2006
WordSpy, April 16, 2008