Sure there are some deadbeats and boneheads who lived beyond their means.
But, especially these days, unexpectedly losing a job and being unable to find another is not uncommon or due to any particular fault on the part of the borrower.
“But, especially these days, unexpectedly losing a job and being unable to find another is not uncommon or due to any particular fault on the part of the borrower.”
Sorry, but you are contradicting yourself. If you are in a (potential) situation to not afford a home, perhaps you should NOT be getting into the mortgage situation in the first place. That is entirely up to the borrower. It is always an IDIOT borrower who gets into the foreclosure situation, because he did not plan ahead of his own finances. The IDIOT becomes a moocher when he expects the government to give him other peoples’ money. These people do not deserve sympathy.