US President Barack Obama listens to a question during a discussion on the economy with local families in Columbus, Ohio on August 18. Unemployment at 9.5 percent is the biggest concern of Obama, whose Democratic Party faces the possibility it could lose control of Congress in mid-term elections in November. (AFP/File/Jewel Samad)
Emilio Carrasquillo is shown in Chicago, July 21, 2010 in front of a home that was used in a mortgage fraud scheme. The house on the 53rd block of South Wood Street in Chicago's Back of the Yards doesn't look like a $355,000 home. There is no front door and most of the windows are boarded up. Public records show it sold in foreclosure for $25,500 in January 2009, then resold for $355,000 in October. In between, a $110,000 mortgage was taken out on the home, supposedly for renovations. This June, the property went back into foreclosure. To Carrasquillo, head of the local office of non-profit lender Neighborhood Housing Services of Chicago (NHS), the numbers don't add up. He believes this is a case of mortgage fraud. Photo taken July 21, 2010. REUTERS/John Gress
The same one-out-of-ten probably should have never gotten the mortgage in the first place.
U.S. President Barack Obama "fist bumps" White House Trip Director Marvin Nicholson on the first hole while playing golf with Cyrus Walker at Farm Neck Golf Club on Martha's Vineyard in Oak Bluffs, Massachusetts, August 26, 2010. REUTERS/Jim Young (UNITED STATES - Tags: POLITICS SPORT GOLF)
If one out of ten has missed a mortgage payment... that does not seem to necessarily transfer into “facing foreclosure” status.... a little overly dramatic?