Beware the Savior solution for foreclosures.

Now the numbers start to come in.

It's been long enough that those who received reworked mortgages to avoid foreclosure have a track record.

According to the Office of Comptroller of the Currency, reports from the 14 largest lenders, representing 60% of mortgage lending, of those with mortgages that had been modified for at least 6 months, 53% wer 30 days or more behind.

It's tough when suspicions are right. It was not the loan that was the problem. When the loan was modified more than half of these borrowers were behind again in 6 months.

This is not a mortgage crisis it's a borrower crisis. When borrowers just don't pay it is not a foreclosure crisis.

What happened. Remember the good old days of Ninja loans. No income, no job, no assets, no credit - no problem. A lot of people in homes they couldn't afford. Why worry about them any more than the person who bought the over priced SUV and didn't like putting $4.00 a gallon gas in it. Choices have consequences.

The consequence of not making your payment is foreclosure. Don't penalize the people who saved and tightened their belts and are still making their payment.