Friday, July 11, 2008
You start off feeling sorry for the woman in this article. Her husband died a few years ago. But she was left a huge house with a lot of equity, and proceeded to squander it on buying a BMW X3 and sending her kids to private school at £20,000 per year. Having built up significant debts, she decided to downsize to solve her problems. Now she is trying to sell her house, and has had to drop her price from £575,000 to £475,000. And then at the last minute her buyer pulls out as they can't get a mortgage. She is left completely pwned. "It's as if the rug of a comfortable existence has been pulled away from me."