How Ruthless Banks Gutted the Black Middle Class and Got Away With It

[dkf]

1. I don't understand why the regulations are so loose still...

When they told me how much I could borrow I was incredulous wondering how in the world i was supposed to pay the mortgage and eat.

If people don't know how to plan a budget and can't say no to too much debt, home ownership is a recipe for disaster, especially with the large loans they seem to be willing to approve even in this restricted environment.

I can see how aiming too large loans with too large rates at a particular community does them no favors even as they rejoice in a short lived stint as a homeowner.