"Regulators at the Securities and Exchange Commission and other agencies believe most homebuyers should have to clear that 20 percent hurdle. I suppose I should agree. If I can do it, why shouldn't everyone have to make that stretch? But the truth is I couldn't have purchased my first house several years ago if that rule had been in place." [emphasis mine]
She's thankful that government regulations didn't prevent her from taking out a loan that she felt she needed.
I'm with ya, sista.
I just hope you remember this attitude of yours next time your staff comes up with another editorial that demands that government step in and block loans to others simply because they are poor and, therefore, stupid.
See "Close lending loopholes."
Put yourself in the shoes of the ignorant masses out here, sweetheart, after having written what you wrote about your plight, and consider this quote from that Roanoke Times column:
Predatory lenders have proven they will find any loophole, however small, to ensure that they can continue to exploit people in desperate financial straits.Is it that payday lendees - the great unwashed out here - aren't as bright as you and can't decide for themselves like you can?
The only way to stop that will be to outlaw payday and car-title lending completely.
Or will you agree with me that people should be allowed - without the heavy hand of government getting involved - to enter into straightforward lending agreements come what may?
You are thankful that you were able to find a lender and secure a loan. There are a lot of good people around Virginia who have a whole lot more need than you do.
What's good for the goose, babe ...