My agreement with the lender should be that if ever I cannot make the payments, then I will give the house back and the lender keeps whatever I paid, but I am free and clear. On the other hand, if I do what is normal today, the agreement is that if ever I cannot pay, I give the house back, the lender sells it, and if it is not worth what I owe, then the lender sues me for the difference. That's surety, and it is almost exclusively the kind of lending that is being done in America today. So, the problem is not borrowing itself but the misuse of it. Allow me to say a word here about consumer debt.
Consumer debt is the worst kind of debt because the product one buys is usually consumed.
An example of this would be using credit cards to cover car repairs, buy tires, or take vacations. However, if the card is paid in full each month, it is the equivalent of paying cash. Let's talk a bit about consumerism, which relates to consumer debt. Unfortunately, the proliferation of credit allows families to buy things they cannot afford to own. Automobiles are a good example of this principle.