It is a little frustrating.
I remember "back in the day" when getting a mortgage was a fairly big deal: having to "meet the ratios", prove (in writing) that you had the down payment - cash - in hand and that it wasn't borrowed (i.e. a series of bank statements over time), etc...
Then I see one day, over-the-phone mortgages where "credit history doesn't matter". Interest-only loans, ARMs during times of record low interest rates, etc...
I too feel bad for folks truly caught by the economy. However, I have no tolerance for financially overextended 25 year-olds who tried to swing a $350K mortgage they had no business getting and (in a rational world) never would've qualified for who expect me (the taxpayer) to bail them out and keep them whole.
This is the Pub. Leave common sense at the door.