So this is what happens.

"The percentage of mortgages entering foreclosure rose to a record level during the three months ended June 30, according to a survey released yesterday."-Washington Post

Hmmm so this is what happens when lenders give loans to people who can barely afford them including illegal immigrants who should not be here in the first place but, of course the mainstream corporate media does not raise that issue. Meanwhile congress and President Bush seem to want to us taxpayer dollars to bail the lenders and the sub prime buyers out and in so doing will make sure that people and the lenders who made these bad loans will never learn the lessons of finance. That lending money requires diligence and responsibility. I paid off my college, car, home and even time share loans. I did it because it my responsibility to do so. I seems that concept is being ignored with those involved in these sub prime loans.