This is the second person I know personally that has run into this recently. Overextended himself on his dream home in 2022 at a high interest rate. Bought down the rate but the buy down expires in a few months and his income has slowed down as well. He has no choice but to list the property.

He is going to collect a fair amount of equity but still a tough pill to swallow having to give up the dream. Rate buy downs are scary business for those who use them irresponsibly.