Last week Treasury Sec. and other members of the Bush Administration visited Oakland, CA. They were there due to the fact that CA has an abnormally high foreclosure rate. (who doesn't!) 
The Administration's current attempt to battle the foreclosure epidemic is to educate home owners who are loosing their homes to the programs out there that can help.
Those of you who have read my blogs on this subject know that i'm a bit skeptical when it comes to the feeble attempts that are being made to correct such a mass nationwide problem. While i will always applaud any attempt made to assist helpless home owners, I must say that this one cut's the cake.
This surely comes off as a masked attempt to put a band aid on an amputation!? The programs out there "Hope (Bail out) and lifeline don't help but approximate 3% of Americans loosing their homes.
Instead why doesn't someone develop programs that can educate home owners on the perils of real estate before they sign on the dotted line. There are almost no programs out there to teach citizens how to be smart shoppers of new homes, re-financing programs and investment opportunities.
In my home town i'm hosting seminars and workshops bi-weekly speaking about basic real estate information. Subjects like how to read HUDS, when is it best to re-fi, what loan programs are too good to be true are discussed in open forums and lectures. It's our responsibility as real estate professionals to teach our communities the do's and don'ts. The reality is.....If we don't who will?
Klarque, I think the reality of it all is we are only about in the middle of the foreclosure problem. Things are going to get a little worst before they get better. Don't have the solution but hope they find one soon.