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Old 11-25-2014, 05:39 PM   #9
GFC
Guru
 
City: Tri Cities, WA
Join Date: Nov 2012
Posts: 4,406
Saltcod, you're lucky enough to be in a position that many people aren't. Lots of people HAVE to finance a boat if they want one. That's on top of car loans, mortgages, credit cards, student loans, etc.

If they were to use the house for collateral and the proverbial feathers hit the fan, they could lose the thing that's most valuable to them.....their home.
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