WHEN THE ROOF CAVES IN:

Leaders from the battalions of New York's foreclosure-fighters came together recently to talk about bad lending, good new laws, and the kind of bailout local folks would appreciate. > By Jarrett Murphy and Karen Loew

The recent collapse of some of the nation's largest financial institutions is understood as the crashing of a wave set in motion by years of poor lending practices, corrupt securities schemes and lax oversight. But for thousands of New Yorkers, the wave is still crashing – as they confront untenable mortgages, potential loan defaults, and even the loss of their dwellings. In 2007, there were 15,000 foreclosure filings citywide. And experts say that in New York City, the foreclosure crisis has not even crested.