Contrary to what you may hear in advertisements, 2009 may not be a good time to buy a home unless you are planning on living there for several years. This bit of news is not actually a huge shock for me, but it is not helpful for several of my clients whose success depends – at the very least – on people buying real estate in 2009.
This is again, another reason why we need meaningful reform out of Washington soon. Undoubtedly, the proposed changes to the Bankruptcy Code which would allow judges to reduce mortgages of consumers could help. But some contend that the reform will accelerate “lenders’ losses on home-equity, automobile and credit-card loans.” I’m not so that is a particularly bad thing.
About 10 years ago, I had abdominal surgery. As luck would have it, one of the sutures that was designed to dissolve didn’t. Instead, it got infected. It was very painful.
Admittedly, I’m a big baby when it comes to pain (my staff will back that up). This pain was far too much to handle….so my friend put me into a cab and we went to the emergency room. When the doctor came in, he examined the incision, looked at me square in the eye and offered these words:
I will pull the stitch out. And I’m not going to kid around here. This is going to hurt like hell.
He was right. But it was brief, and frankly, the only recollection of the pain is the memory of my saying “wow, you were right” and then a “thank you” and then having this amazing smile on my quite relieved face when I walked out into the reception area whereupon I asked my friend if he could hear me scream all the way out there.
My point in relaying this scary, perhaps a tad disturbing, but nevertheless humorous anecdote is that sometimes we have to go through some pain to get where we want and need to be. In hindsight, I guess I could have been upset that the sutures they used did not always work as intended. Rather, I was more relieved that there was still a capable doctor who told me the truth, prepared me for pain, and then sent me on my way with a smile on my face. And in the long run, I was no worse for wear. And to this day, I am grateful for the honesty.
Related posts:
- Relearning How To Buy Stuff
- What would you do….
- House Passes Bill, Filing Fees Increasing
- House Broke
- What’s Your House Worth?
Tags: Bankruptcy, Housing News, In the News, Modifications and Workouts, Mortgages and Foreclosures
