We want people to get into loans that they can pay off. They can pay month after month, and at some point have a ceremony, a little party, that people in another generation had of burning the mortgage because it is paid off. So for the rest of their lives, they will own their home free and clear. Predatory lending traps people in a cycle of borrowing and borrowing again.
Discussing the issues of predatory lending and the importance of sustainable home loans.
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