Let's call him Tom. Tom is in his 80's, and he is a very stubborn person, very set in his ways.
All of the sudden he has decided to replace all of the windows and doors in his home...to the tune of $50,000.00. His home is completely rundown, Tom has lived there for over 40 yrs, without doing any maintenance to the house. It is a mess. He needs a new roof, and his bathroom is a huge project.
Tom is doing this because of an ad he received by mail. Tom came to see if we would co-sign this project.
His home is worth $50,000 to $60,000. I raised my eyebrows, and gave him the look "What?"
These people are scamming him, he's an old man. He signed a contract. Wow!
He came to me for advice, I told him to really think this out. "Your home is worth maybe $55,000."
I agree that he has need for repairs. Do you really want to do all of these windows?
I advised him to make a list of all the work that the house needed, and then decide what is important.
I told him that I was very concerned about the roof. "Go to your credit union if you really want a loan."
I planted a seed, maybe Tom will consider my suggestions.