Ever gone through foreclosure?

[DetroitSportsFan]

Originally Posted by O_V_N

A lot of homebuyers in the last 5 years WERE and ARE able to afford their mortgages, it's just that the value of the home when purchased was inflated, and the real market value is significantly less. They literally cannot afford to sell their home now.

Add to the falling home values the fact that thousands of people have had to take pay cuts or lost their jobs completely, and that fueled the foreclosures even more. I'm sure there's many families that were gainfully employed 5-10 years ago and bought a home and *poof*, their jobs are gone.