Here are some numbers to help you put things into perspective:

There are about 110 million households (give or take a few million). About 65 percent of American households own their own home, according to the Census bureau. So, we're talking about roughly 65 million to 70 million homeowners.

Of those, we've had 4 to 5 million foreclosures and economists from the National Association of Realtors and the National Association of Home Builders estimate that we’ll have another 4 to 12 million additional foreclosures before we get the U.S. housing market back on track.

So, when all is said and done, we’ll have had somewhere between 8 and 17 million foreclosures out of 68 million homeowners.

It's a pretty big number.

Historically, about 2 percent of homeowners defaulted on their mortgage, and those homeowners who actually were foreclosed on and had to leave their homes was a tiny percent of that.

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