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The Ramsey Show Highlights

I’m $2.5M in Debt With 9 Mortgages

The Ramsey Show Highlights

Ramsey Network

Business, Education, Investing, Self-improvement

4.5839 Ratings

🗓️ 14 November 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

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0:06.6

So I have about $2.5 million in debt between mortgages, short-term, different car loan, stuff

0:13.9

like that. I'm aggressively paying off kind of all the debt except for the mort the mortgages currently okay and I'm just trying to

0:23.0

see in that I should have that done in about a year's a year and a half based on the way I have it

0:27.1

set up and I'm just trying to see if I should make bigger changes and try to attack everything

0:33.4

a little bit more aggressively and get a paid off sooner yeah let's Let's roll it back. Let's continue the way I'm going.

0:38.6

Let's roll back and see where this lies because when you first tell me I have two

0:41.9

and a half million dollars of debt, my pulse quickens.

0:45.6

But then when you mentioned real estate, I thought, okay, that makes this a little different.

0:50.0

So tell me about the real estate.

0:51.7

Can you just go by property by property and I'll ask you about each one?

0:55.8

So the first property you have, is it a rental, I'm guessing?

1:00.0

Yeah, so first one was a duplex.

1:03.3

Okay.

1:03.6

It's worth about $250,000.

1:05.6

I have about $158,000 on it.

1:07.8

Oh, $1.50.

1:09.7

Yeah.

1:10.4

Okay.

1:10.6

I'm not saying about $1,300 have paid about $1,300. Yeah. I'm saying about $1,300. Income is about $2,150.

1:13.4

Okay. So let's go to the next one. Single family, $270,000 asset value at about $159, payment, $1,000, income, $7,750.

1:27.3

Okay. And the next one? worth about 310 debt 200 000 payments 1481 income 2200 okay uh is there

...

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