What Do We Do With The House? |
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Other Things to Think About
Don did what he had to do to deal with the situation at hand. As he himself stated, there were some other options he could've considered before letting the bank foreclose.
- In addition to a getting a roommate, refinancing might have been an option to consider. Online services such as Quicken.com and lenders such as Eloan provide online tools and articles that help you evaluate your financing options.
- Most financial planners recommend that you have an emergency fund equal to six months expenses in savings. That makes unforeseen changes, such as a salary reduction, a little more navigable because you have several months over which you can make a decision. Clarity often comes from the ability to step back just a little.
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