Commercial or MFH - what happens after the 7 yr fixed rate is ove

[Diane G.]

Read several times on here that people bought commercial or MFH and plan to hold 5-7 years...What happens if the market turns the other way and you can't sell, AND the fixed rate expires and you are now facing a higher rate? 

I know people dont think about these things in a good market like today's... But what happened to those in the game back in 2008/2009? Did they all survived or wiped out?