the reality of those people loosing their homes is they didn't belong buying them in the first place. The previous increase in home ownership was facilitated by a sub-prime mortgage farce . Banks and financial institutions were pressured into lowering their lending standards by political pressure from minorities to include them in the dream of home ownership. The collapse of the artificial housing bubble is no suprise . Credit scores were created for a reason. People who didn't pay their bills before don't just magically start just because they are approved for a home loan. Where's the suprise in the number of forclosures. It may be just equal to the # s of people who shouldn't have been in a mortgage in the first place. There are many HONEST mortgage brokers who will assist 1st time or low credit score homebuyers by educating them on how to improve. They are patient business people hoping for future customers by teaching them how to improve their scores and making good financial decisions. The problem is people want to hear NO CLOSING COSTS FREEE MONEY whoo hooo!!! Just like lawyers should NOT be allowed to advertise on TV ,as was the case for many years, there should be oversite as to the bait and switch for mortgage commercials that deceive the average idiot .. I mean American