boedicca
Uppity Water Nymph from the Land of Funk
- Feb 12, 2007
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Having poor credit usually... not always... means that you have lived and purchased beyond your means.
Do you typically recommend that a employed person who owns a home and has a mortgage, that suddenly is layed off and is without income, should immediately sell their home?
That's nonsense. Hopefully, that person has some "rainy day savings" to tide them through until he finds a job (it is very imprudent to be "house poor" with no savings in case of an emergency). It costs money to sell a house; making a panicky decision to sell is usually a bad idea.