I guess one of the greatest achievements for a normal family is to own rather than rent the house they call home. Sometimes I wonder why I work so hard but my sister told me that it is very fulfilling to call a place your own real home even if she has to be responsible for a 30-year home loan.
Some time ago, a friend of mine had to liquidate his properties because his daughter fell seriously ill. Although he is rich by normal standards, he was unable to come up with cash in a short notice.
He was looking for quick cash for homes that he is selling since he has quite a few but did not manage to sell them off as quickly as he would like.
He had to take out a loan from his friend with the promise to return it once the properties have been sold which he did within a year. He did not like to be put in a financial fix like that and told me that he would rather prefer to sell his houses at once even if he may be getting a lower than market price for them. At least he does not have to swallow his pride to get a friendly loan.
Some time ago, a friend of mine had to liquidate his properties because his daughter fell seriously ill. Although he is rich by normal standards, he was unable to come up with cash in a short notice.
He was looking for quick cash for homes that he is selling since he has quite a few but did not manage to sell them off as quickly as he would like.
He had to take out a loan from his friend with the promise to return it once the properties have been sold which he did within a year. He did not like to be put in a financial fix like that and told me that he would rather prefer to sell his houses at once even if he may be getting a lower than market price for them. At least he does not have to swallow his pride to get a friendly loan.
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