When a “no” can mean a “yes” (or how to speak banker).

Well it seems yet another bank has said “no”. However unlike others it is not a straight out “no”, it is actually a “no” that includes an option for a possible “yes”. Pretty simple and not surprising really. All we have to do is get rid of our duplex in Gig Harbor. It is a really nice duplex and rents easily, but thanks to some crappy advice from our old accountant it looses too much money for us. If we unburden ourselves from this we lower our total debt significantly and actually raise our income.

You see a commercial loan is nothing like a residential loan and I would be amazed if any of our B&B owning friends had a commercial loan.

The bank in question is the one in  which the commercial lending head stays with us regularly. He kept the scones I sent to bribe the banker. They would have made little difference. They have offered a great short term solution that may work once we get rid of  the duplex.

My Aussie friends and family will ask if this is a step closer to moving back to Australia. Probably not, but it makes it a little bit easier to say yes. That move is always on our minds now.

We do have another local bank still working on it for us. They may be able to make it work. We will see.

So all efforts go in to selling the duplex. If anyone finds us a buyer there will be a reward for them, I won’t say what as it will depend on the offer we receive, but you will at least receive our eternal gratitude. Rewards improve from there on.

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