Years ago, I lived in California with my parents. We had a house with lots of fruit trees, including orange, lemon and even Pomegranate trees. Unfortunately, times got hard and my parents had to foreclose on the house.

Now, in California, 19% of the new foreclosures are from California. The rest of the country is not doing much better with about 10% as an average. Easy money lending is the source of the problem. As new home building was at a high, lenders wanted to approve as many mortgages as possible and with help from the lowered restrictions from the Federal Government, mortgages were approved that shouldn’t have been.

Unfortunately, this is now a hard mess to fix. The government will continue to bail out the financial institutions, car makers and any other big corporation that puts it hand out, but will this really save homeowners or the jobless?