These are the dumbest of the dumb (usually minorities and welfare mammies) who thought buying a house was as easy as renting one.
They didn't consult an attorney and a financial adviser to realize that the price could fluctuate as much as $800 a month in an ARM loan.
It's not like it is the mortgage company's job to tell them and find out in advance that they can't really pay for their house.
Think of it as walking into a casino. You know the odds are stacked in the house's favor. But in this casino they don't have to tell you what your odds are. And everyone's odds are all specialized, based on their income and credit score at the casino. You wouldn't go there and expect to win, would you? You certainly wouldn't ask for your money back after they took you down.
No sir, you would man up and pay what you owed.
Why would you expect any less from your lender? They have the money and it is your job to find out what could possibly happen.
You lost the money. Now pay up, you deadbeat jewbags. Don't go whining to the government to bail you out or to "write down" the debt.
If I had my way, all people foreclosed on would be in debtors' prisons until they worked off their debt to the bank's satisfaction.