They say alcoholics and drug addicts won't consider reformation seriously until they've hit rock bottom. If you know a drunk, you may wonder how low they have to sink before the desire to remain conscious overrides the desire to be in perpetual stupor and denial.

Well, sober up, America! We may not have hit bottom yet, but do you really want to see how much worse off things can get? Here's an interesting chart I found on fellow blogger Richard Geller's site, The Mortgage Relief Formula.

Mr. Geller asserts not only have we not fallen out of love with "betting the farm" on some equity jackpot, but that we have no more farm to bet! We are, as a nation, upside down on equity. That is, we owe more on our homes than we own. I recommend you read his entire post, because he has more illustrations and some provocative observations.

It's like being at a table in Vegas. Listen to Kenny Loggins in your head, "You gotta know when to hold 'em, know when to fold 'em, know when to walk away, know when to run." We're way past the time we should have run!

Today's paper in my small town showed a letter written by a local citizen pointing a finger at the culprit. "It is us," said Mr. Isquith in the Sedona Red rock News. More publicly, Congress. But we elected the people who first pushed lenders to loosen standards so more people could qualify for a loan, and now are asking lenders to choke down their losses and forgive debt principal!

My advice? Pay off your home as soon as you can. Use your house to pay for your house, even.