Ok, so it's not a great photo, but it's a great view of the river, and I didn't want to leave. I reluctantly put my house on the market when I realized I would not have enough income to pay the mortgage; of course, with the current economic instability depressing housing sales (and me), there was no buyer. So I decided to take my house off the market and rent it out. A small annuity allowed me to put a decent downpayment on a 26ft camper, and with the great good fortune of having a friend who wanted to rent the house, I managed to keep the camper in the yard, overlooking the river, and am now in the process of adapting to camper life.

Out in the desert region of the US, I would imagine, camper, motorhome, and general RV living is a commonplace. It's not so prevalent here in the southeast; at least, not in the area where I live. A couple of my friends were visibly shocked when I told them of my intentions. Check your local zoning codes, too, for regulations on having an RV or Camper on your property.  My camper is obviously a temporary set-up, ready to hit the road when the whim hits me. It makes good sense, however, and here are an arbitrary selection of reasons why you might want to consider it if you are worried about the immediate future of your finances and concerned about the number of foreclosures the banks have had to handle from folks who just can't make the mortgage payments anymore.

1. People give you money on a monthly basis. Now, depending on your income and the state of your house (whether or not it might need immediate renovation or extra maintenance before you can rent it out), this can hardly be bad. If you have any other income at all, and can cover your mortgage payments and keep your house, then you are in a much better position than the real estate agents out in L.A. I read about who have been reduced to sleeping in their cars.
2. You still own your house, and can itemize the mortgage in your tax returns. True, you will have to report the income that the rent brings in.
3. If you are financing the camper (or motorhome, or whatever), then you can usually claim that against your taxes, too, as it can often count as a second domicile.
4. The housing market can't stay so bleak for ever -- if, like me, selling is an option, you would be best to wait until the market recovers before selling your primary residence.
5. You can either travel or stay put. I may venture out into the wilds in a few months, but for the moment I'm hooked into my own electricity account and plumbed into my own septic tank. This cuts costs (gasoline, renting a truck to haul my camper, park fees, etc) to a minimum, as I am now splitting the costs of electricity with the woman who is renting my house.
6. Dang! When I emptied my house I got rid of a lot of crap! I put the rest into storage, but it felt really good to divest myself of much of the detritus of just twelve years of living in one spot.
7. The camper is cheap to heat. I haven't endured a South Carolina summer in it yet, and that might be another story, but it certainly is economical here in the wintertime.
8. It's compact, has clever use of storage space, and is perfect for one person. Yeah -- I wouldn't recommend this for a family of six or seven. . . .
9. It's comfortable. The armchairs are cosy, the couch is stain-resistant, the floor is easily swiffered clean. It's easier to live here than in a house.
10. My view. In my case, that's important. I didn't want to feel as if I'd been dispossessed or exiled from my own home, and I know that I am in a singular situation with having a friend rent the house. But it's an important reason.