I agree. It is sad that people have to be forced into be honest and that doing what is right not only for you, but for others doesn't come very naturally to some people.

You are also right that people want instant gratification and will deal with the reality of it all later. It is the whole, Oh, I cant afford the payments on this house, but if I get an ARM I can afford it attitude.

I do disagree on one thing though, the mortgage industry will be more legit when this is said and done.