Here are some tips that can help you calm down and may also help with your trading decisions if you apply them correctly:
Understand the meaning of a sunk cost. Learn to identify them.
One of the most common mistakes in the realm of decision making is the failure to recognize sunk costs and the failure to apply this principle: sunk costs should always be ignored.
Once you understand the sunk costs found in the situation you describe in this thread, you will see that it is likely a wise move on the part of the bank. It is likely a “win win” (another concept that many fail to fully appreciate.)
Another similar example: Many landlords know that the best way to get rid of a deadbeat tenant is to pay them to move. That’s right, solve the problem by giving money to the guy who owes you money. Sounds nuts? Think about it.
Step back from the moral outrage, and think objectively.[/quote]
of course i understand the concept of sunk cost…Personally, I’d rather the banks to just FC on the property.
You know what? That’s why I want to buy more rentals… I want that check money back, and I want to get my cut… At least when i do it, it’s legitimate.
