People like to tell me how upset they are at homeowners facing foreclosure. They know I'm a real estate writer, and figure that I'll be a sympathetic ear. They tell me that they're frustrated that homeowners who were simply greedy, and took out mortgage loans with artificially low initial interest rates, are now placing a burden on the rest of us taxpayers who bought homes that we could afford.

They're always surprised when I tell them that many of us are just a bad break or two away from foreclosure ourselves. What if you lost your job? What if you suffered a serious illness? A divorce? Would you still be able to afford your mortgage loan? Are you one of those very fortunate few who actually do have an 8- to 12-month emergency fund built up?

I know I don't. And if I lost my main job? I'd hate to think about how hard it'd be to make the mortgage payments in our very modest home.

I was intrigued, then, by a story my wife forwarded me yesterday. It was written by Edmund Andrews, an economics reporter at the country's top newspaper, the New York Times.

What is intriguing is that Andrews should know all the ins and outs of mortgage loans, credit card management, debt management and achieving good credit. He makes his living writing about money, right?

But Andrews' story focuses on the spiral toward foreclosure that he and his wife recently suffered.

Turns out, the Andrews stretched themselves too think financially to get into a $460,000 home. The couple didn't make nearly enough money to afford the mortgage loan that came with the residence. But their mortgage loan officer — whose company is now out of business, of course — crafted a complex loan that allowed the Andrews to move into what they thought was a dream house.

The story takes a lot of twists and turns, and I recommend that every homeowner or aspiring homeowner read it, but in the end, the couple stops paying their mortgage loan after receiving a foreclosure notice from their lender. Their lender, though, is apparently too busy to deal with this. As of the time of the story, the Andrews hadn't paid their mortgage in eight months. They still haven't been forced from their home. They are waiting, though, for the ax to fall.

The story, I think, serves as an important reminder for all of us. Our economic safety nets aren't that secure these days. Very few of us are truly protected from losing our own homes.

So next time you want to criticize homeowners who might be on the verge of losing their own residences, show a little compassion.