The banks didn't "saddle" anybody with anything. The person with a $50K income freely signed up for the $2K/month mortgage payment. They were not forced to do so by the bank, the realtor, or anybody else. They chose their path in life - the consequences of that choice belong solely to them.
I agree with you that the banks didn’t “saddle” them with anything, but the banks were pretty foolish to lend many of these people money. I have a friend who is trying to “get out” of her mortgage now and I NEVER would have lent her money when she was looking to buy a home.
I think both the banks and the individuals are both at fault and have been irresponsible in this situation. The actions of the homeowners is more moreally egregious, though.
But the Bank CHOSE to lend under terms (required by law) stating that the borrower can either pay the fulkl loan or give the house to the bank as full payment.