Not always true when someone having only $25K in assets is servicing a challenging $20K debt.
Someone else without debt having $5K in cash can sometimes jump at an opportunity that would be completely out of reach for such an encumbered debtor. They usually wouldn't have the $20K debt unless they had already spent all or more than all of their cash at one point, up to approximately $25K already spoken for.
Right on target with a house owned outright until the exponential rise in your pesky property tax gains enough momentum to become an actual threat.
Someone else without debt having $5K in cash can sometimes jump at an opportunity that would be completely out of reach for such an encumbered debtor. They usually wouldn't have the $20K debt unless they had already spent all or more than all of their cash at one point, up to approximately $25K already spoken for.
Right on target with a house owned outright until the exponential rise in your pesky property tax gains enough momentum to become an actual threat.