Forclosures good or bad?

This issue has been in the back of mind with all of this economic stuff lately. I came across a good article in the Wall Street Journal that I think sets up the case well for forclosure not necessarily being something that should be fought at all costs.

http://online.wsj.com/article/SB123336541474235541.html

I think this is really important to think about. The politicians mostly argue that "the homeowner must be helped" and that forclosures must be stopped. There are good arguments for this having to do with the knock-on effects of foreclosures (such as neighborhood crime rates), though I don't know if they are substantiated. But that doesn't mean there aren't good arguments for letting them happen. At least in what I've read the mainstream media mostly parrots the politicians line about stopping forclosures - but I hope alternate perspectives are voiced and given serious consideration as well.