The foreclosure crisis that we are currently witnessing is one of the greatest economic tragedies that we have seen in America in modern times. Millions of people are getting kicked out of their homes, and the U.S. government and mortgage lenders are providing little to no real help. It is a real shame to see so many American families get dumped out on to the street because of the greed of a few. And unfortunately, foreclosures in the United States continue to set new records. The number of foreclosures set another all-time record for the second consecutive month in May. In addition, the number of newly initiated foreclosures rose 18.6 percent to 370,856 during the first quarter of 2010. What that means is that the foreclosure crisis is getting even worse. Tens of millions of Americans desperately need foreclosure help, but pretty much nobody seems interested in helping them. Foreclosure horror stories are multiplying as large numbers of American families are struggling to pay mortgages that they didn't understand and couldn't afford in the first place. Unless someone steps forward to help the tens of millions of Americans that are in danger of foreclosure, the tragedy is going to end up being unspeakable. (Read More.....)
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What a mess the U.S. housing market is! RealtyTrac has announced that foreclosure filings in the U.S. 
The subprime industry was at one time, an option given to those with damaged credit, and people who had few options to obtain a home. Much research has shown that an astounding number of people who mortgaged under a subprime loan could have qualified for much better. We have a combination of lenders wanting to pocket quick money and a buyer that wasn't educated on the biggest decision of their lives.