Throwing In the Towel on my Mortgage
The Credit Code.
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Author: Rex Madden
That's right, I am one of those "greedy real estate investors" who ruined the country. My only possible thought was to make as much money as possible with total disregard to all else. Well for starters, this is America right? We all live the dream of wanting to make it big. Don't believe me, go to the liquer store Friday night in the ghetto anywhere and look at the long line buying a lottery ticket. Hey I have been buying and selling properties for 30 years. A little a time. Reinvesting the profits back into properties. Expanding a little at a time. Renting for a few years, then selling as a new house came available. I am tired of you do nothing sob's who set around waiting for the USG to send you govvernment checks. Nobody complained when there was employment because people like me took the risks. Everyone knew the profits wouldn't keep sky rocketing. But absolutely no one for saw the absolute drought in buyers. I didn't forsee my sons accident and necessary surgery. I didn't see my partner SkankyFrankie, my best friend, emptying the bank account and fleeing, I didn't see my wife divorcing me and leaving me stuck with a ton of dept she rang up while gambling. I didn't see a fire wiping out my business. I've paid my bills, and I've paid my taxes. And for two years I've paid the mortgages on time. I just can't do it anymore. It was a difficult and emotional decision. I have been rich before, and I've been broke before, but always able to pay my bills. The realization struck that after two years of trying to sell these houses, there aren't any buyers, and there aren't any renters. I have seen a lot of my friends go bankrupt. Who knew. And I was out of resources. It goes to self worth. Donald Trump does it all of the time. And I never planned on doing it. Even buying the house prior to the big up tick, and then cutting the price back to 60% of what I paid, I can't seem to sell these houses. The buyers are confused. Those that are out there anyways. Way to many houses to choose from for them to make a decision. Plus who knows, they may go down another 20%. Why buy now? What makes me small is there will be some sorry people later who should have bought now and didn't.
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