“You’re in Such a Mess, I Don’t Even Know Where To Start”

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“You’re in Such a Mess, I Don’t Even Know Where To Start”

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Күн бұрын

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Пікірлер: 571

@mexicanboy92840 Ай бұрын

I never understand how some people can say they "outgrew their house". They be having 3 bedrooms home with 1 child and act like they can't walk in there.

@kokoskokso 3 ай бұрын

Oh boy, seems like one of those Ramsey videos that makes me grateful for my own situation.

@ugabuga1361 3 ай бұрын

Basically dad and mom screwed their kid… bless their hearts. Parents probably not good with money so as to be expected

@joelfenner9179 3 ай бұрын

That's most Ramsey videos

@RoccoRyg 3 ай бұрын

That's pretty much the only reason I watch this show.

@miketheyunggod2534 3 ай бұрын

You’re horrible.

@lisahinkofer2085 3 ай бұрын

Amen right. Glad I’m where I’m at. What a mess this is.

@pegzpat 3 ай бұрын

Dave is absolutely right when he says theres nothing wrong with renting when you cant afford a house.

@brucewayne3892 16 күн бұрын

Nothing wrong with renting if you can't afford to buy. But if you can't afford to buy and have no tangible plan to be able to afford it, you do have a problem

@JFDSmit-rm6tw 9 сағат бұрын

I've picked that up through the years, he would even tell people to rather rent until they can put down a deposit rather than go into the sale with payments they eventually will not be able to afford.

@Matt90541 Сағат бұрын

there is nothing wrong with renting when you CAN afford to buy a house. In fact, depending where you are from renting makes more financial sense than buying.

@liveyourbestlife1878 3 ай бұрын

Never mix money with family!

@mdaniels6311 3 ай бұрын

Boy oh boy so glad I learnt that before it became a situation like this. I just lost small amounts.

@seaor2k122 3 ай бұрын

Amen!

@daniella8400 3 ай бұрын

Yup! I stop allowing family to even borrow money

@Polo22546 3 ай бұрын

EVER!!

@kbanghart 2 ай бұрын

@@daniella8400I allow it

@noahsgarden7072 3 ай бұрын

Ashamed to admit this is my favorite type of ramsey content

@bebop504 3 ай бұрын

I learn the most from these types of situations

@PInk77W1 3 ай бұрын

Train Wreck

@danlc95 3 ай бұрын

Hey, you like what you like.

@nailatiylluf 3 ай бұрын

It might sound silly but hearing this stuff over and over scared me into realizing you have to assume things will go sideways and it’s not your fault if someone else didn’t prepare for it.

@robertthompson5908 3 ай бұрын

Same here.

@diceportz7107 3 ай бұрын

We out grew our current house. Whaaaaat??I came from a large family, we slept multiple kids to a bed. We made it work because that was the house that my parents had.

@vickieclark5931 3 ай бұрын

It's just a justification to spend more money and get a bigger house. Just like when people go into 80k debt for a brand new car. People justify their stupidity.

@dudeorduuude5211 3 ай бұрын

Agreed. My husband and I live in a 1 bedroom condo, with a baby on the way. We don't have enough yet for a down-payment for a house. We will make it work.

@mamamoney3746 3 ай бұрын

I have 9 kids and we built a 960 sq foot home in cash and lived there until we sold and used the sale to buy double the sq foot - 969 was tight but not horrible. They didn’t need the space that’s an excuse !

@aanfimova 3 ай бұрын

Don’t be! Sometimes you learn way more hearing what’s NOT to do 😉

@Josh-lp2ng 3 ай бұрын

@@mamamoney374611 people in under 1000 square feet sounds pretty uncomfortable to me!

@today7518 2 ай бұрын

Had neighbors with wife constantly saying they "needed bigger house", and got big, new house...leading right into money issues and divorce.

@Elizabeth_lowkeyluxuries 3 ай бұрын

Anytime a parent comes to you with a "deal", have a talk with an attorney before you do anything.

@ryanyoung9202 2 ай бұрын

🤣🤣🤣🤣

@diegoflores3967 Ай бұрын

Lmfao America 😂

@levioneill5388 22 күн бұрын

Sorry you had bad parents

@wildfire4175 3 ай бұрын

I refuse to be house poor. I'll live in an RV before I go broke for a house

@victorkreitner754 3 ай бұрын

Even worse striking deals with family members. A sure way to be hearing about it 24/7 when something goes wrong. I want to strike out and learn on my own with no family involved. My old man always told me no free lunches in the world, well there's no free lunches when it comes to family wheeling and dealing. It always ends in a disaster and with someone getting hurt.

@crowtservo 3 ай бұрын

My uncle has a friend whose wife kicked him out. He took his RV to my uncle’s house and pays him $200 a month for “rent”. Has his RV hooked up to my uncle’s electricity and water/sewer.

@davidmercado2329 3 ай бұрын

I also refused to that after hearing horror histories in Dave Ramsey show and also listening to Warren buffets talk about the margin of safety concept

@tonytoni1150 3 ай бұрын

@@crowtservo that’s crazy 😂 That electric bill is gonna be thru the roof lol

@parler8698 3 ай бұрын

Same

@BrianShannon241 16 күн бұрын

The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.

@LucasSmith715 16 күн бұрын

Money invested is far better than money saved , when you invest it gives you the opportunity to increase your financial worth.

@KaylaAlexis. 16 күн бұрын

It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.

@Francesjean432 16 күн бұрын

The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.

@EmilyNora234 16 күн бұрын

Many individuals report success in investing in stocks, forex, and cryptocurrency (Bitcoin), yet I continue to struggle. Can somebody help me out or advise me on what to do?

@MaryBegay350 16 күн бұрын

Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.

@cathy7824 3 ай бұрын

Can't pay his bills so he buys a bigger house

@jimj2388 2 ай бұрын

this happens all the time

@josephmorales8368 2 ай бұрын

Parents knowing that is just awful

@raccuia1 Ай бұрын

They have to have their cake and eat it too. Ya got a smaller house. Nah, that's not good enough because it will look bad.

@cutehumor 3 ай бұрын

The parents are using their son for their retirement income. reverse screw

@jimmymcgill6778 3 ай бұрын

How did they screw him?

@SweetPotata10 3 ай бұрын

They haven’t gotten a dime from him and they “sold it” below market value

@cutehumor 3 ай бұрын

@@SweetPotata10 relisten to the phone call, he doesn't "own" the home. The home is still in his parent's name. He is renting the home from the parents. All this 'home equity" stuff hasn't happened yet. The reverse screw: The parents are getting their son to pay off their mortgage. The parents probably know the son's income is not high enough to qualify for a home loan.

@TitoMolina604 3 ай бұрын

@@cutehumorson could've said no.

@garykeith1048 3 ай бұрын

@@TitoMolina604 The son sounds like a clueless idiot. He doesn't seem to realize you don't own a car or a house unless your name is on the title. He doesn't seem to know the basics of buying a house or financing a house. I real sorry for his wife marrying such a clueless financial illiterate.

@Poooridge123 3 ай бұрын

Bro said he made 75k a year and his take home is 72k? The IRS has questions

@BearsRule777 3 ай бұрын

I'm confused as well. The caller has no idea what "take home" pay is.

@justinschexnayder8485 2 ай бұрын

Prob just paying state tax

@eguevara4803 2 ай бұрын

@@justinschexnayder8485Texas has no State tax

@someonethirsty1957 2 ай бұрын

Could have a bunch of kids.

@robertthompson5908 3 ай бұрын

1) should have gotten out of debt before trying to upgrade their house. 2) shouldn’t have tried to buy a house they couldn’t afford 3) shouldn’t have gotten into a deal with their relatives.

@matthewmchenry9331 2 ай бұрын

Missed opportunity to find out how many cars these people dont own.

@oldgeezer2780 17 күн бұрын

I sort of sigh when I hear "we outgrew the house." When I was growing up, it was common for families with three or four children to live in a three bedroom house with one bathroom. Kids shared bedrroms. People found a way to get washed up and out in the morning, even if Mom worked, too.

@Loljjkb 3 ай бұрын

People need to work on their self worth and insecurities. Buying these house when you know you can’t afford is solely because they have bruised ego and insecurity.

@colbyallen5750 3 ай бұрын

Also “family” so it “will just work out.” As someone who did a hard money deal on a house with parents that fell through, it doesn’t always work.

@garykeith1048 3 ай бұрын

The guy is not even close to buying the house. He needs to get his vocabulary and thought processes in line with reality. He seems to be totally clueless about real estate and financing a home purchase. He needs to disengage from his parents, act like a grown man, and buy a house from an outsider. This nonsense of depending on the parents to purchase a home needs to go.

@mikemcconeghy4658 3 ай бұрын

If your name is not on the loan, then you can't call the mortgage company to ask about it.

@theresa5158 3 ай бұрын

Also if one of the parents ends up in a nursing home… they’ll take the house.

@ronaldlindeman6136 2 ай бұрын

Or, the kids (adult children) will be encouraged to help the parents for as long as they can.

@kbanghart 2 ай бұрын

@@ronaldlindeman6136what's wrong with helping?

@kbanghart 2 ай бұрын

Who will take the house?

@theresa5158 2 ай бұрын

@@kbanghart Medicaid reimbursement lien A Medicaid lien on a home must eventually be satisfied. Typically, a Medicaid lien is placed on real property when an individual is receiving benefits through the Medicaid program during his or her lifetime and still owns a primary residence. Even when the home is exempt, it can become subject to a lien when the Medicaid recipient passes away.

@impalamama7302 2 ай бұрын

@@kbanghart The state. As part of Obacare or during his administration a Federal law was implemented that required every state to put into place programs to seize assets of any person whose long term care whether at a facility or in the home was paid for by any state Medicaid funds. A surviving spouse may live there until their death, but then it is taken by the state. just as with taxes, somes states are more confiscatory than others. But they take any real estate at very least until amount paid by state is satistifed.

@DoctorSmartyPants 3 ай бұрын

Dave, the 90k left on the mortgage does not tell you what the mortgage payment is. You were thinking 90k re-amortized. The mortgage payment could easily be 2k and that is what they are asking in rent to own.

@logdon17 7 күн бұрын

Seriously, how does he not understand current balance means nothing for the monthly payment unless the loan is recast.....

@DoctorSmartyPants 7 күн бұрын

@@logdon17 Ugh. These podcasts are getting like....ugh

@robloxvids2233 3 ай бұрын

The son is basically a reverse mortgage company now. But with no legal recourse. Ridiculous. People please don't "help your parents out" by buying their home from them. Tell them to put it on the open market and get the best deal. And you live wherever the FLIP you want. I don't trust your parents.

@thomasdalton1508 3 ай бұрын

They should have legal recourse, just secondary to the bank that has the mortgage. If the parents don't have any other assets, they might be judgment proof after the house is foreclosed on, though.

@tywebbgolfenthusiast8950 3 ай бұрын

I bought my parents house. Paid appraised value for 5 acres of land with a house my dad built himself. We’ve been here for 17 years and couldn’t be happier.

@SweetPotata10 3 ай бұрын

What makes you think he’s helping his parents out by buying below market value, especially he said he needed a bigger home since he outgrew his?

@nightreader1264 3 ай бұрын

Property taxes are brutal in Texas!

@llcross04 2 ай бұрын

Yep, I deal with it every year!

@Coffee4commonsense 3 ай бұрын

I’m wondering if the parents have a reverse mortgage on this house and didn’t bother telling their daughter and son-in-law this.

@kendrapratt2098 3 ай бұрын

Dude can’t even explain what kinda situation they have going on here 😆 1:46 Dave’s face cracked me up 😆

@TheSecondWitness 3 ай бұрын

Exactly. It's like pulling teeth getting information out of this guy. He just babbles on and on, is super unclear, and I don't think he even knows what he's saying.

@robertjetski8736 3 ай бұрын

What about 3:15 when Dave learns how much savings they got?😣

@garykeith1048 3 ай бұрын

@@TheSecondWitness I feel sorry for his wife marrying this jerk.

@JhamEntertainment 3 ай бұрын

People are in such a frenzy to buy a house, they will do anything to technically “own” one right now.

@TimGreen-co3vp 3 ай бұрын

and truthfully, you never own it until it is paid off. Just like your fancy car, motorcycle, boat, etc.

@FreeAgent797 3 ай бұрын

Even if its paid off, you never truly own it. You still have to pay property taxes, or they'll rip that property right from under you.

@garykeith1048 3 ай бұрын

You either own it with the deed in your name or you don't. Basic real estate 101.

@TimGreen-co3vp 3 ай бұрын

@@FreeAgent797 Well that is true. However, I think it is easier to pay taxes when you do not owe any money on it.

@bryandelcid4065 3 ай бұрын

Parents taking advantage of the housing situation and decided to make profit off their kid. Sad. He should’ve stuck with his previous house and said “no thank you, go hustle someone else.”

@UsernameUnkwn21 3 ай бұрын

Just bc he is their kid they should take a bath and have nothing to retire on?? He said he needed a bigger home , they are selling him their bigger home below market, he could have stayed in his little house and built on

@SweetPotata10 3 ай бұрын

I actually think asked his parents to do that since he said his family outgrew the old house and didn’t have enough money for a bigger one, so they sold it to him below market value.

@jimroscovius 3 ай бұрын

@@UsernameUnkwn21No, they aren't selling it to him. If they were, his name would be on the mortgage. They're just renting it to him. Bad deal all around.

@DudeDude491 3 ай бұрын

John would have asked if the callers Parents are safe

@Times397 3 ай бұрын

💯

@Steve-lk1eb 3 ай бұрын

Lmao

@bryandelcid4065 3 ай бұрын

“Dude, I know ya’ll made a mess out of this but are your parents safe right now?”

@DudeDude491 3 ай бұрын

@@bryandelcid4065 Lol

@Times397 3 ай бұрын

@@bryandelcid4065 “it’s important you get them in touch with a good pastor, uncle, cousin, or a true friend who can walk with them through this…”

@SteveC484 3 ай бұрын

“We outgrew that house” 🤣

@PInk77W1 3 ай бұрын

Me grew up in a 1200sq ft home With 2 parents and 8 kids

@debruntz4196 3 ай бұрын

We moved into a house just under 1000 sq ft with six kids, my mom and dad, and my grandparents. And then my youngest brother was born.

@choicemeatrandy6572 3 ай бұрын

1st world problems

@kbanghart 2 ай бұрын

@@debruntz4196I'm sorry

@kbanghart 2 ай бұрын

@@choicemeatrandy6572 not sure that fits. How many single family homes in America have so many people residing?

@garys.1415 3 ай бұрын

Correct me if I’m wrong but the original loan was for 300k+. The parents are locked in at whatever that payment is. So, the mortgage payment could be $2k and the majority of it is going to equity on the $90k remaining.

@evans4751 3 ай бұрын

Renting a property would be cheaper for this couple.

@FortuneSeek3rz 3 ай бұрын

They have nowhere to go to pay off the 30k. Wife doesn't work, two kids, energy bill just went up trying to heat and cool the bigger home. Dude needs a raise very soon.

@andidede3653 3 ай бұрын

He needs a wake up to reality moment before a raise.

@Lon1001 3 ай бұрын

It's not necessarily a bad deal for any of the parties involved, it's just that the paperwork is totally lacking and jeopardizes the caller's financial future. Probably should have used lawyers to structure the transfer of ownership and payments to satisfy all the interests on this property.

@karmasutra4774 2 ай бұрын

They can still fix it

@enricopallazzo3244 3 ай бұрын

Dave is being overly dramatic here. If they just get like 4-6 roommates they will be fine.

@f.w.1318 2 ай бұрын

Can’t have roommates when you have a family wife, etc..

@enricopallazzo3244 2 ай бұрын

@@f.w.1318 I know, I wasn’t being serious. They’re screwed.

@f.w.1318 2 ай бұрын

@@enricopallazzo3244 LOL yep, I just saw your profile pic, L Nielsen was a classic, dude was funny as hell.

@enricopallazzo3244 2 ай бұрын

@@f.w.1318 The best

@ChaosAOE 18 күн бұрын

I chuckled for a good few minutes at this comment lol. Mostly because I could definitely see a tiktok bro recommending this path 😆

@bobmarker6812 Ай бұрын

What they "need" and what they can afford are two different things.

@JustinCase780 3 ай бұрын

Caller: Need your advice. Show: You're an idiot that has screwed up everything. Audiance: Yeaa!...I feel better about me!!!

@cesaravegah3787 3 ай бұрын

Well, yes, the callers however get valuable advice and sometimes they actually start the process of improving their lives so Is not entirely a "Jerry Springfield" kind of show.

@wittenberg5 3 ай бұрын

LOL! That's the gig in a nutshell!

@ShaeJ_Shae 3 ай бұрын

USDA offers $0 down payment mortgages. There’s also programs to help w/ down payment assistance. Find a builder who pays closing costs as well.

@GDuncan8002 2 ай бұрын

In rural areas yes.

@GAFB1122 3 ай бұрын

Rule of thumb... if you cannot easily explain it to a layman then stop what your doing, take a step back and consider other options. The more complicated and creative it is tells me you most likely can't afford it anyway.

@getinthespace7715 3 ай бұрын

Exactly. If the deal takes more than 10 seconds to explain something is wrong. Step back, turn around, walk away.

@kennedyjefferson 3 ай бұрын

Thats an excellent rule of thumb. I'm gonna use that. Thanks!

@mike112079 3 ай бұрын

Haha Awesome!! 🙌🏾🙌🏾. Most of it is them trying to word/phrase it better so it doesn’t sound dumb!

@PoyTroy 3 ай бұрын

I like this, if you can explain it to a 4yr old in 5 seconds. Then it’s not so simple

@user-tt9cg2le1s 3 ай бұрын

They should cut their losses and go rent something cheaper until they raise enough money for another mortgage. The parents can sell their home to someone else

@joestatts7820 Ай бұрын

1/3 of take home is perfectly fine for a mortgage payment. This is only bad because the house isn’t in their name.

@marcenelj 3 ай бұрын

$2k mortgage payment on a $6k monthly take-home pay income is not bad at all these days.. what in the world is Dave thinking? Is he aware of what's been going on in the housing market lately?

@joesmith3590 3 ай бұрын

The thing is it may be tough at first but the kids can go to school and the wife can then work. Now you can afford it. If they wait until the kids are grown they are unlikely able to afford it. They can pick up 1-2k extra work until the kids are grown also.

@aorg9793 3 ай бұрын

The average USA single detached home is $397K. Using Ramsey's 25% over 15 years rule, a household would need to be grossing at least $130K a year for the average single detached home. The percentile for those USA households making at least $130K a year is the 75th percentile. So, according to Ramsey logic, only a quarter of US households can afford the average house.

@Tashas_Travels 3 ай бұрын

Not when you have 2 kids who need food, clothes, shoes that get smaller every few months and every year and a wife who doesn't work.

@dobia4486 3 ай бұрын

They're fine, it doesn't cost $4k a month to feed 3 people when you don't have to pay a babysitter

@marcenelj 3 ай бұрын

@Tashas_Travels the wife who doesn't is maybe a plus.. Day care cost is averaging 2k a month.. unless the wife can go to work and net 4k a month.. enough to cover daycare and some leftover.

@sjaykay9884 3 ай бұрын

$72,000 a year and the wife stays at home? He doesn’t make enough for that lifestyle. Let’s start there. So no wonder they were able to be tricked into taking that mortgage on. They already live in delusion

@eriks442 3 ай бұрын

That's about my salary. My wife stays home with my two boys in So California. $360K mortgage, no car payments, paying down debt, high cost of living and we live quite comfortably. It's all about management.

@eriks442 3 ай бұрын

@@sarahjaynescott545 I didn't force the stay-at-home life on her either. We planned it together long before kids came. That doesn't work for everyone but for us, we feel it's best for our kids. I didn't want my children being raised at a day-care center. With budgets, please don't simply blame the man. It's not a husbands job to do alone. Both partners need to be involved regardless of who the breadwinner is. If the wife isn't an active participant in managing finances then she can't blame the husband when thing go bad.

@reviewsbygen5591 3 ай бұрын

We live off $70k as a family of 6 and I also am a sahm. It makes no financial sense for me to work when daycare is $1000 more than what I would be making as a teacher. My husband makes $130k but we live off $70k of it. It’s definitely possible but people need to have their priorities right and don’t be afraid of making kids share a room. With me being home with the kids, it gives me time to meal plan, find free/cheap things to do on the weekend, cook daily, clean the home, budget for everything else, etc.

@cnh7262 3 ай бұрын

@@eriks442is too! We make it work , well worth it.

@TheSonyExperience 3 ай бұрын

@@sarahjaynescott545whaaaaat

@user-ob1oi7kn2w 3 ай бұрын

Git on da rice n beans yall 😮

@Loljjkb 3 ай бұрын

With their income they can’t afford that mortgage. How is it hard to figure it out? It’s simple math

@scotttracy9333 3 ай бұрын

They needed a bigger house and thought this would be a good way to clear their debt and get a house on the cheap, paying $2k a month while bringing in $6k a month Sounds good in theory doesn't it ?

@getinthespace7715 3 ай бұрын

@scotttracy9333 , I think the parents talked them into this... The guy sounded like he just walked blindly into this "deal" the parents setup. My guess is they bought a new place and this one sat on the market and wouldn't sell, or they just figured it would be easier to offload it on the kids.

@scotttracy9333 3 ай бұрын

@@getinthespace7715 Yes. The bigger question is, where will the parents live ? If they continue living there, then the parents now have someone to pay their mortgage. That's a good deal for them

@adamseidel9780 3 ай бұрын

They absolutely can afford the mortgage, this is very reasonable and a good deal

@jimmymcgill6778 3 ай бұрын

Simple math, they can afford it. More then likely, it's the same payment as their old house.

@rudolphteperberry3888 3 ай бұрын

Just "rent" from the parents until the mortgage is paid off then they "give" it to you and you give them asking price minus £90k in monthly installments. Verbal agreement!

@Bonsai-Miata2020 3 ай бұрын

And we out grew our 2 year old SUV and we needed a full size new Suburban so while I watch the kids and wife can drive to yoga lol

@dudeorduuude5211 3 ай бұрын

They could have waited until they were out of debt. And yes, should have stayed in their house because they can afford it. Too late.

@Lil-Whiskies 3 ай бұрын

I don't think they are the kind of people who will ever be out of debt.

@s5101984 2 ай бұрын

If he had the money he could "outgrow" the house anytime he wants but he DOESN'T!

@JFDSmit-rm6tw 9 сағат бұрын

Generally, subtract one "bedroom" from the count (except for a 1 bedroom, obviously) for a storage room if there is no dedicated storage in the house or on the yard, or even a garage. Suddenly less struggle to find a place to rent for the furniture and equipment.

@JoeyNYSDnomad 3 ай бұрын

Buying things you can't afford. Pressured by parents that are not economically sound.

@today7518 2 ай бұрын

Why can't the parents sell the house, and kids get more affordable house?

@bryanortiz4359 2 ай бұрын

Uhhh, sell the house? If the parents agreed to owner finance the house then they son/daughter have the right to sell and keep the profits.

@victorkreitner754 3 ай бұрын

The look on Ramseys face at 3:15 said it all. If it's too good to be true, especially within the family it usually is. I'd rather be dirt poor than doing financial business with family members. It always ends up slapping you in the face, and creates a friction within relations. Learn to handles your own stuff and keep family out of your affairs.

@0_1_2 3 ай бұрын

Thumbs up if you only watch videos with Dave in them and not the other clowns.

@TdcThompson 3 ай бұрын

Relax

@Kaktus965 3 ай бұрын

@@TdcThompson Nope, he’s right

@Neoquaker1 3 ай бұрын

I like Ken Coleman. His daughter Rachel is ok but it's obvious nepotism.

@Kaktus965 3 ай бұрын

@@Neoquaker1 She hot tho

@thinkforyourself9334 3 ай бұрын

@@Kaktus965 No she's not.

@raymondmadowo9424 3 ай бұрын

Hi Dave. I discovered your channel a few days ago, and boy, have I been helped. The five-step process just opened my eyes. I'm from Nairobi Kenya. I need your every dollar app, but it's not available here. How can I access it coz I really need to straighten out my debt situation. Many thanks for the great work that you and your team are doing.

@littlevuggey93 3 ай бұрын

6 jobs? I am working 3 jobs and barely have any sleep, life, or cook. And I'm struggling like heck.

@3rddegreeburns494 2 ай бұрын

Everyone is missing the point. He got to post all those pictures on Facebook, showing his new big house & how he's living the dream. That's worth going into bankruptcy...right? SMH.

@margaretsnewtoylynnparks5336 Ай бұрын

BUT my FRIENDs have a BIG house. My HOUSE is BIGGER than yours! Wife should get part time job/full time job! (To Help)! ! !

@wavelength123 Ай бұрын

One of the few videos he actually explains to the caller instead of repeating his sayings

@bowilliams8403 3 ай бұрын

Meanwhile I’m paying 2K for a 1 bedroom apartment 🙃

@brooklynzoo81 3 ай бұрын

When you're in a hole, you keep on digging! Grab a few credit cards and have another kid 😅

@BrianWaller-qe7gr 3 ай бұрын

Don’t forget to buy a bigger car for the growing family

@jenniferlaughlin9600 3 ай бұрын

Mom and Dad can give a gift of equity which will cover the Down Payment and closing costs.

@lisecarolina 3 ай бұрын

Parents should just pay off their mortgage and then provide a private mortgage to the son. So the son pays the parents but can have the house under his name. The problem with this scenario is that the parents are skipping the step of paying off their mortgage first.

@DoctorSmartyPants 3 ай бұрын

You're assuming parents have cash laying around to pay off the house.

@gayle2276 3 ай бұрын

They're making payments on a $300,000 plus house. Parents owe just $90,000 and probably just paid approximately $150,000 plus for the house. Parents could rent it to them, still make a profit and they'd be paying a comfortable amount for rent.

@codyp8728 2 ай бұрын

The mortgage payment is based off the original loan amount. 90k left from whatever the OG loan was.

@JasonGroom 3 ай бұрын

It's a $2000 payment because the payment is based on the price they bought it for, not what is left to pay. It was probably a 250,000 dollar mortgage.

@donaldrichey3318 Ай бұрын

He is getting the house for $340,000.00. Then he is getting the house for $300,000.00. He was making $75,000.00 a year then he is taking home $72,000.00. None of this makes sense.

@oshkoshbegone 3 ай бұрын

What the heck... it's not that bad. Parents should pay off the house and sign the title over to child with a vendor financing agreement. They don't need a down payment unless the parents want one. This is done all the time without realtors or banks. Typically just a real estate lawyer completes the agreement.

@alinatamashevich3354 3 ай бұрын

When the parents OWN it, they can. There is a lien holder who owns it now

@darthenx2585 3 ай бұрын

I mean he can just talk to his parents and renegotiate and tell them he just cant afford it. Try and come to a rental peuce agreement or else go rent a small apartment till your out of debt.

@johndone8045 3 ай бұрын

2k mortgage is not a lot AT ALL

@Nicolllld 3 ай бұрын

Depends on a lot of variables

@despairasite 3 ай бұрын

It is a lot when the household income is $72k. Mortgage payments taking 1/3 of income is not a good situation.

@aorg9793 3 ай бұрын

Yeah, $2000 a month out of $6000 total a month is fine. Dave's 25% rule is oblivious to the actual world of property ownership.

@DatBoiLui 3 ай бұрын

It's a lot for me, I'm in Houston and mine is $824 for a 2 bedroom 2 bathroom townhouse

@raymondmiller2538 3 ай бұрын

He has 2 kids and a wife 2 support so 2000 is a lot

@arh1234 3 ай бұрын

Jade - looking fabulous today! Kudos on the styling Also of course I appreciate your insights😁

@tryingtowalkthepath683 Ай бұрын

Me and my wife have a 900sq ft house with 2 children, and all i ever hear my wife say about it is "i never want to sell this house. It's perfect."

@letaloudone 2 ай бұрын

A seller can do "gift of equity" and that is considered a down payment on the mortgage.

@crowtservo 3 ай бұрын

I’m 1 minute in, yeah what a mess.

@daveavemian5940 3 ай бұрын

Good ole dave ramsey giving nonsensical advice. 2k mortgage in todays market is very reasonable. Mortgages that are 25% of take home pay DON'T EXIST. Why won't someone call Dave out on this?

@stephaniem4565 3 ай бұрын

This is so true

@romeoj30 3 ай бұрын

Unfortunately, with Biden and congress spending and covid etc. the average is moving closer to 50% when you exclude family help, life insurance, gifts etc. So much salary is getting eaten up by just about everything else that is a monthly bill. These days it cost money just waking up.

@amessina6691 4 күн бұрын

Parents conned them.

@steve2474 2 ай бұрын

Dave's expression at 3:15 says it all.

@exceedinglyaverage1179 3 ай бұрын

The best kind of Ramsey videos!

@catherinewilke5583 3 ай бұрын

I usually agree with DR but Jade is the voice of reason here. Yes it’s a mess. This caller should move out and rent an apartment. Let the parents pay their own house. Work the baby steps from an apartment. DR is trying to make them stay committed to the bad decision. I say reverse it. I made the mistake of buying the family home from my mom for market value. She said she would come back and help clean it out. News flash, she didn’t. I really couldn’t afford it, so I ended up selling at a loss and having to clean the home. Never gain. Mom laughed all the way to the bank.

@Kaktus965 3 ай бұрын

She was just nurturing you in her own way 😊

@CJ2023Incognito 3 ай бұрын

3:03 I heard the exactly what Dave initially heard about the 60 & 30k. Lol

@iracohen3864 3 ай бұрын

The chances of getting approved to take on the old mortgage are nil. Pull out of the house, go rent a smaller home or apt for a couple of years, pay off your debt, then start building up a new down payment...and don't keep looking for a big house you can't afford...The old "growing out of a house" often means you saw a big house you liked and justified the expense that you really couldn't afford. But you were foolish to sell your old house considering your 60K debt... It's not hopeless, you just have to reimagine your dream of home ownership

@versiec 3 ай бұрын

The parents can gift a portion of their equity to them to purchase the home and they can use that towards their down payment and closing costs It’s called “gift of equity”

@edwest8804 Ай бұрын

The parents are trying to profit off their child. That's crazy.

@KrisRogos 29 күн бұрын

A tenancy agreement is the least messy way out of this as it protects both households and keeps the debt and title together. If they want to be cute, the parents set the rent below market value but enough to cover the existing mortgage and leave the house debt-free in their will to the caller.

@logdon17 7 күн бұрын

Of course they can have a $2,000k payment on a mortgage even if the balance is $90k. The minimum loan payment is based on the original terms (price and years) and never changes unless you recast. How does Dave not understand this?

@robertjetski8736 3 ай бұрын

Maybe they, the parents, could remorgage for a longer period?

@Comeoffitman 2 ай бұрын

I bought a house for 12,000 buckaroos in 1977 and sold it and bought a house for 24,000 in 1980 than built a garage with a apartment above it and moved my mom’s brother in and she said she shouldn’t have to make her brother replace the hot water heater because he’s family. What do you suggest?

@shayna8324 3 ай бұрын

Dave is so dramatic

@New-bw4kz 3 ай бұрын

Exactly my thoughts

@Markf311 20 күн бұрын

Assuming an average appreciation rate for a home assessed today at $320k, with a mortgage balance of $90k, his parents are most likely paying $1,000 or less per month for their mortgage yet charging their son's one income family $2,000 a month. Yikes.

@mrskitty7929 3 ай бұрын

Parents can add him to title with a deed of gift

@Jaybird-be1tt 3 ай бұрын

If you can't afford to gift your children a home. I say don't sale it to them. Looks like wife needs to get an online job.

@tjr4459 3 ай бұрын

The wife needs to find a job asap. That income is not for stay at home parenting!

@vmatwejski Ай бұрын

The look on Dave’s face when he realizes…

@miketheyunggod2534 Ай бұрын

Dave making things up again. He’s not Nostradamus.

@1tommyday 3 ай бұрын

This is totally off the books, right? This guy has no stake in this house he is paying through the nose for.

@kensmart1976 3 ай бұрын

Dave is exactly right. The risk is huge. I get they want to own the house but get a mortgage and get your name on the house.

@kevdogg545 18 күн бұрын

I’m thinking $2 monthly payment is $1k going to the mortgage and $1k paying his parents the difference to pay off the equity the parents have in it to them.

@firegirljen 3 ай бұрын

Actually, there are some loans that are no money down like a USDA loan

@carolr7823 2 ай бұрын

$2000/month for a mortgage of rent is supper cheap. That's nothing in my area. A one bedroom apartment could rent for more.

@marys.fanara8078 3 ай бұрын

His parents did that to him. Be hard on them!

@WachoDude 3 ай бұрын

Mortgage companies DO give 100% loans I can prove it I did one myself. So when Dave says they DONT and yet they do he’s wrong. Oh and before I get attacked I went with a credit union and there’s no PMI.