Very low, but Platteville isn't Boulder either.

I repaired my house with credit card $$ after using every $$ I had to buy it for cash outright. Paid it off within the year.

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1977 300d 70k--sold 08
1985 300TD 185k+
1984 307d 126k--sold 8/03
1985 409d 65k--sold 06
1984 300SD 315k--daughter's car
1979 300SD 122k--sold 2/11
1999 Fuso FG Expedition Camper
1993 GMC Sierra 6.5 TD 4x4
1982 Bluebird Wanderlodge CAT 3208--Sold 2/13

...."modular" home....
Condition?"

Sad, but this family is in for worse financial crisis in the future. With his credit effectively shot for the next 7 years and his mortgage company likely garnishing his wages at his job, he'll have even less to bring home to the family.

This is the type of fatal financial decision that can hound you for years and years to come. If he switches employers or loses his job, he'll have 60 days to repay the loan on his 401(k).

Nothing like flushing the financial toilet.....twice.

You can't fix stupid.

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1985 500SL Euro w/ AMG bits 130k
1984 300SD Turbodiesel 192k
1980 240D Stick China 188k
2001 CLK55 AMG 101k
2007 S600 Biturbo 149k Overheated Project, IT'S ALIVE!!!

Exactly. And that's what kept me plugging away all these years once I woke up.

I know of a couple (not friends, former acquaintances of my SIL) who filed for bankruptcy to get themselves out of CC and gambling debt. Man did that pissed me off because the were really living it up after that. Turns out the guy's parents put his house in their name and were making the payments for him. The couple has since divorced and the last the ex-wife heard the guy had buried himself again.

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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15
'06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)