Back five years ago and past that, the banks were lending money to individuals whether they could pay it back or not. We think voracity took over and the banks commenced not to respect whether the borrower could pay it back or not, if they failed to pay then the bank could just charge more interest and composite interest and make even more money. Read more

We know of cases where individuals would go into the bank to borrow lets say $100,000 and the bank would talk them into $140,000 a more luxurious house, car or equity line. The borrowers know what they can happily pay back but when a lending institution is telling you, you can afford more I think people just wanted to believe them. Read more