> "It was the easiest thing I've ever applied for," McDonough said. "I just filled out paperwork and submitted it and I was approved." It really is scary how e

> "It was the easiest thing I've ever applied for," McDonough said. "I just filled out paperwork and submitted it and I was approved." It really is scary how easy it is to sign your life away. A lot of people aren't able to fully understand the risk they are taking on > "Regulation Z, which is part of the Truth in Lending Act," Kelly said. "It requires that monthly statements be sent if there is interest assessed on a mortgage." > In many cases, she says, that just never happened. The homeowners never received any kind of communication about these loans for years. And debt collectors piled on massive amounts of interest and late fees retroactively. There should be a cap on how much interest a loan can accrue. Maybe 1.5x or 2x the amount of the loan.