I think along the same lines. And, that the information be reviewed prior to closing. Further, that lenders should be required to grant a 90 Day loan modification through a quick approval process in easily demonstrated cases of job loss or medical emergency. With limitations of course, not suggesting any free rides. Lack of knowledge and the unforeseen probably account for most foreclosures.
Divorce accounts for a large portion too.
That's why I agree, education is essential. There will always be the irresponsible ones.