*Amazing. “How to build wealth, do this..”*

Signing over a deed before getting your name off the loan is so exceptionally stupid I can't even wrap my head around it.

For the one sided haters. Dave GIVES the same advice to both men and women and that is DO NOT BUY A HOUSE WITH SOMEONE YOU ARE NOT MARRIED TO. So just stop with the crying, Dave says this to women and that to men.

I'm so glad that when I purchased my house as a single man, the property is entirely in my name, both the mortgage and the property deed. I have no money problems nor relationship problems.

I love when Dave lets people have it! THIS is why you don’t do married people stuff with someone you’re not married to!

My son thought it would be a good idea to buy a house or condo with a friend. Thank God i talked him out of it.

OMG, this guy was SUPER stupid to allow them to take his name off the deed and not the loan! You cannot get any equity, you no longer own any part of it!

As Judge Judy said : there are real estate courts, family courts, mental health courts but not courts for people who shack up. Never purchase anything that way. It will wreak havoc in your life and it has a ripple effect.

I always say, don't be a nice guy... be a kind man. Huge difference.

I learned this the hard way many years ago. I was living in CA where real estate was expensive and interest rates were high at the time. A friend and I went in together and bought a house. Long story short, it turned into a complete nightmare, ending in foreclosure

This guy is insane. Sixteen years he’s been dealing with this? He should have called a lawyer day one.

Same goes for siblings. If things go south you'll spend the rest of your life dealing with them at family stuff, which makes it hard to be objective.

As dumb as I am, these calls make me consider myself to be a genius.

Everything about this guy is a lesson in what not to do. Kids without being married, buying houses without being married, and who knows what else with all the pauses and hesitation in this guy's voice....

He has $50k saved up. I just happen to have the deed to the Brooklyn Bridge and will sell it for $50k. This poor guy seems like the perfect customer.

See a lawyer.

Tell them that you will stop paying the mortgage if your name isn't on the deed or you will let the home go into foreclosure and nobody gets anything. $400k in equity is no joke to throw away...

2years ago I paid off my mortgage and I can still remember my husband sending me a text message to say we were lucky making and taking the decision that's getting us $35K every month. Paying the mortgage felt like a noose lifted off our neck after 6 years of worry. Marry before buy a house together folks

This guy set himself up for a disaster. Yikes. The in laws are gonna do whatever they can to keep him on that loan. They need him.

How is someone making over $100k/year this dense...keep the mortgage but sign over the deed???

He had one life time commitment that no law can break and another one that needed a new contract to be broken but god forbid they go to the court and get a marriage license

Never buy a house with someone you aren't married to! I made that mistake in my twenties and it's one of the biggest regrets of my life.

I won’t marry you! Let’s buy a 30 year mortgage instead! 😂😂😂🙄🙄🙄🤦🏾‍♀️🤦🏾‍♀️🤦🏾‍♀️

SPEAK THE TRUTH DAVE! People don’t want to hear it because they ALWAYS feel “they are” the exception 🤦🏾‍♀️🤦🏾‍♀️🤦🏾‍♀️

Never buy anything together unless you’re married.

He will have to take them to court as it is clear they have been taking him for a ride and do not want to give up their gravy train.

If you aren't married, no shared finances, no shared bed, no shared home. Let's make morals popular or normal again. If you aren't ready to get married, then you aren't ready to play house either. It's a better way to live.

He says he wants to "move on" with his new family. I wish they would have asked if he was married to this woman or did he repeat the same mistake?

Why would the parents do anything? He gave the house to them, and he pays the mortgage payments, it's the perfect scenario for them.

From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.

Never buy a house with someone you are not married to. Period. No exceptions. If you are not committed enough to each other to get married, why would you think that you should tie your lives together through a piece of real estate?

He shouldve started with the daughter bit... that would be the big factor on the parents decisions. Theyre pushing the loan as a way to force obligations to him.

The fact that he left out their daughter until he had to mention it suggests there's more to this story..

Made the mistake of "shacking up" years ago. My ex signed a quit claim deed then immediately moved out. Like 2 months later she tried to stonewall me on a refinance to get some equity in the house (which she lived in for 4 months tops and never paid a bill for.) If she hadn't signed that deed first it could've been much worse.

The stupidity here is absolutely off the charts. And in the bigger picture, SO many people ruin their lives by ignoring the most basic rule for life: Don't have sex with someone you're not married to!

I can't think of anything he could've done to make this worse. He did every wrong thing possible.

Never purchase a house with a person that is not your spouse. I wonder how the person that he is involved with now feels about all of this.

My parents went in on a mortgage for my brother and his wife. Ten years or so later she divorced him. He had a crappy attorney and had been brainwashed for years by her, so she got everything in the divorce, including his portion of the house (since he wanted to keep a roof over his kids head), and he kept paying the mortgage. So my parents were still partial owners (as brother didn’t tell anyone until divorce was finalized). Brother remarried, (even after my dad told him he was a glutton for punishment😂). Eventually brother and wife2 got tired of paying mortgage, and eventually gave ex wife money to get him off mortgage. Parents never got a dime back, even when she sold the house.

Regarding this guy, he is a MESS!! Another person that is sharp in their career and makes a strong income but is lousy at managing their personal life. I have no respect for that type.

Imagine how hard they were all laughing at him when he signed over the deed without forcing a refi.

Has he been paying child support? That might be why the grandparents are not signing over the house because that might had been the only other leverage they had

This story is EXACTLY why you don't "play house" with someone you aren't married to, regardless of how much fun the free nookie is. What a mess!

Are these people paying the mortagage? Question 1.

He was supposed to mention the daughter in the beginning lol 🤦🏾‍♀️

Has he been paying for the house, or have they? I don't think he would have much right to the equity in the home if they've been paying the mortgage, but it is in his name. This is a screwed up situation. Yes, NEVER buy a house with someone you're not married to, or if you do make sure it there is some kind of agreement done through a lawyer about how everything would be split up, etc if your partnership goes bad.

Of course San Fran, where all the "smart" people keep trying to reinvent the wheel.

Should have seen a lawyer before you took your name off the deed

Do whatever it takes, even if step 3 is required.

I had the exact same problem after a divorce. Bankruptcy fixed it and forced me to save up rather than running off credit. Was a great learning experience.

Also, don’t have a kid with somebody you’re not married to

What about his daughter? Did he raise her? Did he pay child support? Where is going to go when the house is foreclosed?

Never buy a house with someone you’re not married to.

They are not your in laws!

Important question was not asked; who has been paying for the mortgage?

Things can turn out pretty badly when a wife wants to divorce her husband and take the house. But buying a house with a woman you are not legally married to is just plain stupid.

Oh... so, at 3:15, we hear the rest of the story: The ex-girlfriend is the mother of his daughter, who just graduated high school. Reading between the lines: He must've left when his child was 2. He never married the mother, so he never had to pay alimony - only child support. On the call, he never says he made payments on the mortgage. His ex or her parents must've been making the payments. Maybe he didn't fight hard to remove his name because his daughter was growing up in the house. Now, his daughter is 18, the house has renters, and he has a "new family."

Did he say who is paying the mortgage payments?

Free house of course they don’t want to get a mortgage in their name 😂😂😂

If you make 150-200K, how is it possible you only have saved 50K?

Genuine question - this mess could have been avoided if they had written up a clear contract when purchasing the house together, right? So from a logistical (not moral) standpoint it’s not so much “don’t buy a house with someone you’re not married to” but “don’t buy a house with someone unless there’s legal protection for each party, whether through a marriage or a contract”?

"We'd like to loan you $40k, but you have to..." "No."

Would it make a difference as to who was making the payments on the house? Was John there then? Was he paying child support for the grandchild ,or getting a free ride?

Would like an update as to how this unfolds.

As a kid being practical about money management, I put some in the bank and some in my pocket When my pocket was empty, I went home ; ) Takes a certain individual to manage their money properly It’s not easy, but you have to be determined and set standards for yourself

After making the dumb mistake of getting the house with a girlfriend, he made another dumb mistake of not hiring a lawyer to help him get out of it. 🎉

I'll sue to make them but you out. Or force to sell the house. He should have gotten half of all rental income.

I'm assuming they have been paying the mortgage for 16 years as well, maybe I'm wrong, but that's the impression I got. That means they are due a lot more than $50,000 for the house. They are likely due their original $40,000 plus half of the paid off value of the home, and any equity it has gotten in 16 years from market growth. If he sues them he is only due the loan balance in a forced sale since he had himself removed from the deed. He doesn't own the home at all.

This call makes me feel SOOO much better about myself

What kind of idiot would take their name off of the title before the loan??

I wont even do that with my wife's parents, much less a girl friend's parents.

And the plot thickens. That's an understatement.

Has he been paying child support for this kid? Is he legally married now with kids? Sixteen years and 'we've got around $50K' saved. Anything else in the woodwork?

Worst part is that the title has to be changed prior to the bank removing signers from the mortgage. I had this problem with getting my dad removed from my mortgage. Had to update title first and it was backlogged like crazy at the time. Decided to quit my job and renovate my house to sell as I didn't like my job. I told my dad I wouldn't leave him on the mortgage for long and now without a job I couldn't qualify for the mortgage, so my only choice was to fix my place up and sell it. During the 2 years it took me to complete, my dad had many mental breakdowns due to various reasons and blocked contact with me 1 week before I finished. It was a nightmare. Thankfully after what seemed like an eternity (about 1-2 months), he was persuaded to sign by my mother. Never ever in my life would have thought that would have happened and I hope my story can be a warning as to the risks of co-signing, more specifically - joint signing (meaning both parties are on title)

Can someone please explain to me how someone this dense makes $150k-$200k per year? This guy is of the intelligence to be a top earner of the whole country? What are we doing

Then he mentions the daughter 😂

I never understand why people keep doing the same nonsense over and over by having children and buying homes with people that they would not marry. SMH…some people just love having a hard life.

Did he say 16 years ago? He’s been dealing with this for that long! Get a lawyer asap

Copyright law is pretty simple...in the US, if you write it, it is your property. The issue comes into proving it, you can "register" to show public proof of the work

How is it that 90% of the callers are making well over the national average

He not only bought a house with someone he wasn’t married to he had a kid with her! Dumb dumb dumb!

Buying a house when married can also put you in a bad situation as well. Some states have some messed up divorce laws.

She just graduated from high school? This is so messed up.

How can someone with no common sense make nearly 200K a year????

The in-laws are 10 steps ahead of this guy. Don’t do deals with family. Just don’t. Much less a girl friend turned baby mama

Who in their right mind would refi at these rates?

Another idea would be to gift the title to the granddaughter

This is actually a violation of the mortgage contract. He should contact the mortgage company and tell them he doesn’t have “ownership” (deed) to the house.

He makes $200k a year and borrowed $40k to put down on a $200k house? This isn’t adding up.

When he said "her in-laws," I thought he was shacking up with a married woman. It sounded insane.

This man needs a lawyer.

I’ve been watching parts of the Ramsey show for the past couple years I’ve learned a couple things but very little Most of the things you teach are actually just part of good parenting This baby step thing I don’t know where I got it, but I’ve lived like that all my life long before I ever heard of you I bet most of these people you talk to their parents had the same problems Poor money management But glad you’re helping them. Somebody need to straighten them out. ; ) Live below your means I’ve been saving money since before I got out of high school

This guy…I mean. Some people just let folks walk all over them.

Bless his heart

You Don't need to marry to buy a house together but you need to do a co-ownership contract for that purchase. It's that simple. Marriage doesn't have to be the only solution.

They used him from the beginning unfortunately 😅👀

Why are you calling them instead of a lawyer?

How much money should you have saved up by these milestones; 30, 40, and 50. Appreciate the advice!

My ex wife just bought a house with the guy she had an affair with using equity that she took out of my house. Will be interesting to see how that plays out. Worst part is my daughter will be caught up in the middle of it

Thats on him. I dont feel sorry for him

I love your videos, but the best investment you can do right now is to invest in Forex trading, I'm saying this because since I started trading I've seen a difference..