Am I being too heartless?

I find myself a little torn after reading this article in the NY Times.

On one hand, it's very unfortunate that these people got into this kind of financial trouble. On the other hand, it's hard to feel sorry for people who got in over their heads because they gambled on the housing market and lost. It would be one thing if they were swindled out of their money, but aside from the possibility of overzealous lenders approving unaffordable loans, that doesn't seem to be the case here.

Don't even get me started on possible government bailout for victims of subprime mortgages. We've got a war to pay for too! I'm usually pretty optimistic, but I"m having a hard time envisioning a happy ending to any of this.