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Debt is risk. You told the bank/lender that you would pay $x every month for n years. How do you do plan to meet that? Pretend you lose your job in an economic
by theandrewbailey 5y ago
Debt is risk. You told the bank/lender that you would pay $x every month for n years. How do you do plan to meet that?
Pretend you lose your job in an economic recession. You can't make your mortgage payment anymore, and because recession, your investments aren't worth anything either. Lets pretend you have rental properties, too: there's an eviction moratorium, and small businesses are closing left and right, so almost no one's paying rent.
https://en.wikipedia.org/wiki/COVID-19_recession https://en.wikipedia.org/wiki/COVID-19_recession
OH F**K.