'I'm Begging You Not To Do That!'

Explore More Shows from Ramsey Network:

Ramsey Solutions Privacy Policy

[fhuber]

She didn't want advice. She wanted permission.

[cathyl]

It’s hilarious how many times people call Dave Ramsey to ask if it’s okay to go into debt.

[MrJimmy]

After 39 years of life I am convinced people LOVE to complicate their

[frankymagana]

Her after the call, “Ok, hmmm… yea, I’m gonna go ahead and get that HELOC”

[annahopp]

We have done this twice now with two kids. Move everything into storage, sell, close, move to a nice extended stay hotel, buy another home, close, move in. Much better than getting stuck with two homes.

[msambly]

Happened to my "former" neighbor...He ended up losing the first home to the bank, and he was so stressed out he got a painful raging case of Shingles that kept coming back on his back ... it really took it's toll on him and his wife.

[tubenachos]

You know it's bad when Papa Dave begs you 😂😂😂

[jrey]

Dr John couldn't contain his laughter at the end 😂

[tatyanadifort]

We did exactly what Dave said to do. We sold our home at 11am and bought our home with the cash from that sale at 3pm the same day. You can write a contract contingent like he said. Our biggest stressor was having all our stuff in a moving truck for a couple days. But worth it to have no mortgage.

[thullraven]

EVERY time I bought a house, I closed on the one I was leaving before closing on the new one. It just makes sense. I always made the new house contingent on the sale of the old house and did it all on the same day.

[Techreux]

Ohh, boy, made that mistake once.. but NEVER AGAIN!! Dave IS CORRECT, do NOT borrow against your current home! We did a Jumbo HELOC against the home we were selling to get the other one.. very fortunately, the home we were selling closed a week later.. BUT! we had to give back $40K in closing costs to the buyer, and had to pay out over $13K for loan interest, origination fees, etc. SO.. lost $53K just so we could have a roof over our heads all of a week sooner!! Dumb as a rock, that decision was!

[luceroayalap]

You could also rent the house from the new buyer for a few months.

[Jswilk]

Couldn’t sell Dave on the HELOC idea twice… 😂😅

[DC-rdoq]

I bought/sold one house with a contingency. I never did it again not only because of the stress but because I was able to get a better price and beat other bidders when purchasing a home without a contingency. The difference is that I didn't need a HELOC for the down payment on the new house and I could afford two mortgage payments. It was really nice being able to move out, clean the house and hand the realtor the keys. I didn't have to be out of the house every time there was a showing, plus I had dogs so that was always a problem, and the house stayed in pristine condition for showings since neither I nor my dogs were there. It can be done if you are not leveraging yourself up like the woman is proposing.

[EMo-rxpm]

I closed back to back in same room. I was homeless for 30 minutes. It took some work but worth it.

[TheJBanks]

We used a HELOC to get our equity out to put our down payment on another house. Then sold the first house and repaid the HELOC. It worked for us. But can be risky.

[longisland_stacker]

I love when Dave hits the mute button lol

[WhatIsThis-zqhk]

"What if I could take out a HELOC enough to pay for a home cash"

Honey I don't think you know what cash means.

[DutchManticore]

DAVE, CAN I PLEASE GO INTO LOTS OF OF HIGH RISK DEBT?!



And the answer is always no. And they keep calling

[natertater]

My parents had a contingency that they would not sell their house until they had a new house. Dave is very right in his advice this time.