Some readers suggested a topic about how a borrower might know they are overextended. "On a thread yesterday somebody made a: 'You know you’re a redneck when…' joke. It got me thinking about F*#@ded Borrowers’s. You know you’re a FB when after hearing on the news about the poisoned pet food, you decide that from now on you’re going to stick to Ramen Noodles only."

"You know you’re a FB when you find out that the address of your McMansion is listed in the 'Lonely Planet Travel Guide' under 'Inexpensive Boarding Houses.' You know you’re a FB when instead of feeding squirrels you find yourself wondering if they would be a good source of protein."

Others joined in, "You know your a FB when you have more equity in your car than your home. YKYAAFB when you’ve eaten the last squirrel in the neighborhood."

"YKYAAFB when the only option left is to refinance at a higher interest rate. YKYAAFB when the mortgage broker says to you at the closing table, 'don’t worry about it; we’ll refinance you right away!'"

"YKYAAFB when you realize 'reset' does not mean 'start over.' YKYAAFB when you get a letter from your Option-ARM servicer WAAAAAY before the reset is due, and the letter keeps using the word 'recast.'"

"YKYAAFB when the FED puts out a public announcement indicating 'you' are 'contained' and pose no further threat to the entire financial system."

"YKYAAFB and it really starts to set in when your best friend the mortgage broker gets convicted of mortgage fraud. YKYAAFB when your lender files for BK protection."

"YKYAAFB when you realize your lender can file for BK protection but you can’t."

"YKYAAFB when you realize 'subprime' does not mean 'below the prime' lending rate. YKYAAFB when your builder/developer is also your lender."

"YKYAAFB when you receive your W2 at tax time and the amount in box 1 is a mere 25% of the income you stated on your mortgage application."

"YKYAAFB when the following year, your 1099 'gain' on foregiven interest from the foreclosing lender exceeds your W-2 earnings by 500%."

"YKYAAFB when you start to see 2 for 1 offerings, just like dominos pizza, by the housebuilders offering deals on brand new houses that nobody wants...In your neighborhood."

"YKYAAFB when a bailout starts sounding like good economic policy. YKYAAFB when a link to your listing appears on this blog."

The Sun Chronicle from Massachusetts. "In retrospect, Ellie says she should have read the fine print. Almost a year ago, Ellie (not her real name) and her husband took out a $250,000 mortgage on their condo after succumbing to a mortgage company's offer of a 2 percent initial interest rate."

"But after a short introductory term, their interest rate began climbing and their payments shot from less than $1,300 to about $2,100. To make matters worse, Ellie and her husband are no longer able to pay the full interest and principal on their loan. As a result, thousands of dollars in deferred interest have been tacked on to the principal amount they owe."

"'We're trying to sell, but we had to cut the price because it wasn't moving,' said Ellie, who is praying for a buyer so that they can get out of their mortgage. 'If it doesn't, I don't know what we're going to do.'"

"In Massachusetts, foreclosure filings by banks and finance companies have nearly doubled in the past year, with an 87 percent increase in Bristol County, alone."

"'People who fell for seemingly cheap, adjustable rate mortgages probably account for about 50 percent of the people we see in trouble out there,' said (councelor) Mary Ellen Rochette."

"'In a lot of cases the last few years, people were so desperate to get into a home, they got in way over their heads,' she said."