Not much to really say about the article Damien - it is just more media sensationalism. Just look at the numbers 11000 foreclosures over 5 years = 2200 per year. Which really is a pretty small percentage of mortgages that would be in Victoria.
The one thing the article does state is that if you are having trouble - talk to your lender. If you do this things can be worked out.
The other thing that is never mentioned is what are the driving reasons for the foreclosure i.e. unemployment, other debts, divorce .... without knowing what has caused the foreclosures it doesn't mean much.
