The ones who put people into adjustable rate mortgages (ARM's), yes, they may very well do that.
In the coming year many ARM's are set to readjust to rates that will literally drive many families out of their homes, into forclosure, and God only knows where after that. Lucky for me, I get to help families out of situations like that.
The economy does move in cycles, like a clock. Consider 12:00 as the boom in the economy and 6:00 as the recession periods...like the crash of 1987, Y2K, and 9/11. Eventually, the economy rebounded from all of these events. Just as the hands of the clock move around and around, so the economy moves through it's cycle of "boom and bust."
Our current savings rate is suffering also. Average Americans spend $1.22 for every $1 they earn and the average family has about $9,000 in credit card debt.
I just feel bad for people who do not understand the economic and stock market cycle and will pull their money out when things start to look bad, only to miss out on all of the growth their money could have experienced once the economic cycle starts to move toward the favorable direction again.
The smart people bought, or at least stayed in, after 9/11 while many people sold. Buy low, sell high, often not as simple as it sounds but it is how the rich get, and stay, rich.
So yeah, you're right, many mortgage companies will not help the situation and many more will indeed make things worse for a lot of people.
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