Wednesday, June 6, 2012
A friend called last night that I haven't talked to in awhile. He wanted to see how I was holding up. Knowing the downward spiral of our situation with losing property he was hoping we were at the end....... Well we are, sort of. Our primary residence going short sale was the big thing off our plate, he was happy for us. Here's the thing, Shell rents, he always has, and he loves it. He writes his check every month and has a roof over his head, just like people who "own" their home. I say "own" because no one really owns their home unless it is paid in full, if you have a loan the bank owns it. Shell has gone through ups and downs financially just like most of us but he has never feared being foreclosed on. If he ever got to a place he couldn't pay rent his landlord would ask him to leave, simple, black and white. As we talked I thought about how little difference there was really between renting and owning----if you have a loan, none. Except banks are much more ruthless than landlords, they won't even attempt to work with you.