Mortgage Mess Reaches Pets
January 26, 2008
I just ran across this story on msnbc.com about pets falling victim to the mortgage crisis. The story is out of California. The story discusses that a large number of pets are being turned over to shelters because their owners face foreclosure and must move. Unfortunate for the people and very sad for the pets that have no control over the situation.
The reporter mentions that some people have been forced to move into apartment complexes that ban certain breeds. My assumption is that this is probably insurance/liability related. When I was shopping around for a better homeowners rate a few years ago, I discovered some insurance companies target certain dog breeds. A couple of companies I spoke to required a rider to cover my Rottweiler.
Choosing to bring a pet into your life shouldn’t be taken lightly. It shouldn’t be an impulse decision. While pets can be great fun and rewarding, they can also be difficult and expensive. When people are in financial straits, it’s often the pet that will suffer. Based on info from the ASPCA, the cost to own a large dog for its lifetime is $22,120. Sounds low to me. One day, I’ll calculate my pets’ annual expenses. It’s more than a $30 bag of dog food every couple of weeks. Consider financial stuff before you bring a pet into your life.