Hey man don't take this the wrong way, but foreclosure is not always a bad thing. What makes you think your buddy will be able to make his mortgage payment next month? Too many people overextended themselves financially and bought more than they can afford and in the end foreclosure is the best thing that can happen to them. I don't know if this applies to your buddy or not and really it's none of my business but I would hate to see you give up your pistol and yet your buddy still loses his house albeit one month later.
NWS...this is very true, and no I understand the heart that you are speaking from and am not taking it the wrong way.
Honestly it doesn't matter to me because he bailed me out so many times in the past (writing checks with my mouth that I wasn't able to cash - and not the financial ones.
) Me being able to do this is repaying him for the years of him being there for me. All in all, its a material possession that can be replaced...however a friendship like his can't be.His story in brief: he had a run of bad luck with a failed investment that he stuck with too long and it wiped him out. He's already started a new business and it is doing well, but with any new business it takes some time to see a profit and this is where he's at. He just needs a small window of time and a quick injection of some funds to straighten the ship. I have full confidence in him. Thanks NWS for your concern buddy... I sincerely appreciate your thoughts and words. You're so right, many people have over extended themselves and foreclosure isn't the worst thing in the world, however being able to show the bank some earnest and that the ship is righting itself will go a long way with them re-structuring his financial commitments.
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