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JBar's comments are bizarre and kind of show his midnset... if you can weasel your way into something, cheat someone or convince someone to do it for you, then it's fair game. If you can find a way to leverage someone into giving you too much, they'll throw good money after bad just to try to avoid losing thier initial investment in you. It gives you the chance to borrow more than you can afford while making it harder for people with good records and no debt to make a start in a similar kind of borrowing.

Using bankruptcies and foreclosures as opportunities to create too much debt for yourself in the hopes that you'll make a big profit while knowing that if it doesn't work you can always just go bankrupt & wipe the slate clean
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But this is what the "American Dream" is based upon, Gigi, "Other People's Money"!

Since this country was founded, and Thomas Jefferson remarked about what a racket they had with their "Continental Dollars", and could make them worth whatever they wanted, it has essentially been just one manipulation of people's confidence, and willingness to buy into one good-sounding version of "pie in the sky", after another.

Every ten or fifteen years the housing market crashes and has to start over again. The reason is always the same: greedy bankers willing to take big chances, for big profit and commissions, as long as their own, personal money is not on the line. The government always figures out a way to fix the situation without another depression. For the last 70 years this country has muddled through this way. It will be interesting to see if they can do it for another 70, or even 7.