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Why Foreclosure Doesn’t Have to Be So Bad

Okay, I may have already lost you on this one. But stay with me for a moment, because I’m convinced that home ownership can be overrated.

Americans take for granted that owning a home is superior to renting one, especially if you have a family. We accept the phrase “American dream” without question when applied to home ownership. And politicians are wringing their hands over the prospect of the American dream being lost for the millions of homeowners who face foreclosure.

From my own experience, having owned and rented in several different parts of the country, and having worked with clients throughout my career, I know that ownership is not an automatic key to happiness. (I go into this in more detail in Ch. 3.) For now, just try to open your mind to the possibility that renting rather than owning is not always a bad way to go.