Last week I met an old colleague and friend for dinner. This guy moved from California to Florida with his family, but subsequently he and his wife started what is turning out to be a fairly messy divorce. This story would have little to do with a personal finance blog, except for the fact that my friend recently discovered that his soon to be ex-wife has been collecting rent paid on the couple's California house, but has not been paying the mortgage on it. Apparently this has been going on for about five months. The house is now in foreclosure proceedings and my friend's credit is shot.
Of course, if he was half way responsible, my friend would be checking to make sure all was going well with the couple's various financial assets, if for no other reason than to make sure that nothing untoward was going on in the midst of a nasty divorce. But, that's who my friend is. He is a very lively, slightly less than responsible, very fun kind of guy. He is a "big picture guy" and this type of thing is too detail oriented for him.
My friend is taking this all with amazing calm and composure. Certainly more composure than I would exhibit under the circumstances. He is very much aware that his credit is essentially ruined, but doesn't feel like there is much sense in going crazy. He is now trying to work with the lenders to avert foreclosure...
It just goes to show you, you need to know who to divorce.
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