First you have to understand that a black hole in fact, doesn't have anything really special (until you enter the event horizon), except that their escape veloc

First you have to understand that a black hole in fact, doesn't have anything really special (until you enter the event horizon), except that their escape velocity is greater than the speed of light. But gravity applies to it like for any other thing. So let's say you are the object going into the blackhole, and I'm looking at you. From your point of view, the closer you get to it, the faster you will travel, just like when you get closer to earth, because it's gravity is stronger and stronger. So you will end up colliding with it (entering the event horizon) in a finite time (where time, is the time YOU feel, your proper time). But a black hole is so massive, that space and time get stretched to extreme extents. So from my point of view, you'll be speeding up into the blackhole until a certain point, where you'll appear to be slowing down and stretching (the point where your increase in speed get smaller than the stretching of space-time), and the dimmer you'll get (because of redshifting). So i would see you going slower and slower and appear dimmer and dimmer until almost not moving at all, up to a point where I would simply not see you anymore (before you reached the event horizon). All this also apply to other object like earth, It would appear to an astronaut that time on earth is flowing more slowly than it's own time (in reality it is of course unnoticeable , but it is true).