That is good and can't be blamed on the Banks.. some are because of layoffs and legitimate reasons, but most are because of Ignorant Homeowners wanting to Keep up with the Jones' and buying more house than they can afford... Only a Moron would buy a house with a Low payment and interest rate for 3-4 years and then the House payment double after the Initial rate... They deserve to lose their house for being fucking idiots... They knew their payment was going to double and signed the damn Mortgage anyway....
Should their be a law against Subprime lending... Most likely.. but that still does not absolve the Homeowner... the bottom line is they were supposed to read over the Docs (or get their attorney to) and made aware of what they were signing.. Once your signature is on the dotted line it is your own damn fault
The market has to correct itself... Do I feel bad for the Kids and Wives who didn't know what their Husbands/Parents were doing .. Sure... But you can't save people from themselves... | 
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