We Now Live in a House We Can’t Afford

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[dw]

i come here when i think i’m doing bad financially and i instantly feel better 😝

[JeffreyAlice]

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.

[JankAt]

People assume home values go up in a linear fashion. Wrong, there's boom years, sideways years, and there are down years just like any other market.

[garybaltiejus]

Living beyond your means rarely ends well

[cjhoward]

How did people live in it for 4 years and not pay for it during that time ? Most states, you can live in it for a year without making a payment and then you’re OUT !

[Neddiek]

6400 * by 10 months is 64k.
I will sell this house in a blink, cut my losses and rent happily, even a 4k rent will look like a blessing.

[linuxsurfer]

Never co-sign. For anybody. On anything. Even if they are family.

[MrRichardhood]

Sometimes it’s better off to rent till you are ready

[superiorv]

Atleast he has the income to fix his mistake. 6400 monthly payment, I don't personally know anyone who could afford that.

[rodrigosanroman]

A lot of people don't understand what it means to be a co-signer on a house. For a house it means the persons income was NOT enough to cover the mortgage aka unless you are planning on helping they can't afford the house. Mortgages use debt to income ratios so that means they are spending over half their income and that's why they needed a co-signer. A lot of people get this confused since things like cars doesn't necessarily mean they can't pay it. They may have credit issues or something thats why they needed a co-signer on a car. A house means they can't pay it.

[keithrickson]

"I might be right, and I might be But I'm probably right." - DR 😂

[PepeToTheMooon]

I’ll never understand why people love keeping up with the joneses. Just wait til you’re ready.

[NadeDogg]

Ken nailed it. Got 100k in the bank underwater on a house you. Can’t afford… bro what

[sanjaykaramkar]

You definitely have my sub. This content is next level. For me Eledator was the turning point. Please keep doing what you do and keep being you, love it.

[Brooklyn-rjnp]

4 years behind!!!! Ridiculous. These laws need to be corrected. Beating a dead horse here

[floresnashvilledrummer]

Dave is mad Ken had to solve the problem for him!😂

[princessl.d.g.]

I'm currently a college student who was going to school for Business Administration. Inspired by Dave Ramsey, I pivoted to Finance! Luckily, I didn't lose a lot of credit for switching majors. Also, I endeavor to pursue an MBA.😊

[analyticalchick]

I moved out of Queens almost 2 years ago. This sounds weird, a house for 700? They were starting to be for the cheapest ones before I left. I think house are more in NYC.

[lindawilson]

Sell it, sell it, sell it! Get a fresh start that you can afford.

[og]

If the price difference is $50K then wouldn't he loose more? Pay to the realtor %6 for the sale. Are there any fees associated with the sale of a house?