Ric Edelman quotes:

Hope is not a financial plan.

Poor is a state of mind. Broke is a state of wallet. You can fix being broke; it's not so easy to fix being poor.

I think that the consumer is generally unaware of certain material facts, particularly the tax risk and compensation issues.

The people who are taking these loans because it's the only way they can afford their house are exposing themselves to a lot of risk. They're not saving money and they're not building equity, which means they could find themselves in a scenario where they owe more money than their house is worth.