I just paid the payment on my painting business vehicle
For years whenever I would want a new car I usually had no equity in my car or was "upside down". Why didn't
I think to ask the lender to take less than I borrowed. I never would have asked and I don't think anyone ever has.
We know that when we buy a new car that it has dropped several to many thousands of dollars the minute we
drive it off the place we purchased it. A car doesn't appreciate in value (except in rare instances!); so why
do we believe that a house must increase in value!
When we borrow it is in good faith on both sides.
We have lost many of our values and possibly because of this "big daddy government" idea. "Big Daddy" comes from
my watching "Cat on the Tin Roof" after many years on Television last night. Everyone looked to "Big Daddy" to provide
for them including the many he never looked at their faces nor cared to.
It was all about "Big Daddy".
This saying was taken from a soliloquy by Polonius in Act I, Scene 3 of William Shakespeare's Hamlet. Polonius is giving advice to his son Laertes before Laertes heads back to school. (Polonius was a fool in the play, but his advices was not foolish.)
Neither a borrower nor a lender be;
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.
This above all: to thine own self be true,
And it must follow, as the night the day,
Thou canst not then be false to any man.
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