US Foreclosures Nearly Double

Foreclosure filings across the U.S. nearly doubled last month compared with September 2006, as financially strapped homeowners already behind on mortgage payments defaulted on their loans or came closer to losing their homes to foreclosure

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Is this any surprise in our consuming culture. Everyone wants more and bigger things - and are apparently willing to make stupid decisions to get those things. I wonder what most of these folks were thinking when they signed up for their adjustable rate mortgages, with payments that they could barely make when the rates were lower?

Don't worry, the Federal Government will step in and take money from those of us that were not so shallow and selfish and help out those that were (see the need below to audit more taxpayers to find that missing $300 million).