The reason for the bubble was REALLY simple…..
The entitlement attitude(& ignorance) of people wanting to buy something that they could not afford to pay for
ding-ding-ding, we have a winnah! This being said, I think there are a few legit reasons for non-payment of a mortgage, namely things like death in the family, medical emergency, or loss of job, all of which should result in some level of understanding from the servicers. But a lot of the people going into foreclosure don’t have those particular problems.
