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The Ramsey Show Highlights

I Owe $169k By The End Of The Month (What Do I Do?)

The Ramsey Show Highlights

Ramsey Network

Business, Education, Investing, Self-improvement

4.5839 Ratings

🗓️ 21 April 2026

⏱️ 8 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

Brought to you by the Every Dollar app. Start budgeting for free today.

0:06.7

I'm in kind of a tight pickle here. I, about a few months ago, I was looking to move and I needed to move quick

0:16.2

because the living situation I was in was not good for my kids.

0:21.6

The neighborhood drastically turned and became extremely dangerous.

0:26.6

And so I took out a bridge loan to kind of try to get me into a new home.

0:33.6

And I was hoping that I was going to come in at a competitive price.

0:39.6

My price was already like $30,000 less than what my home was worth and it's almost six

0:46.1

months now and my home, my old home still hasn't sold.

0:52.2

And I owe 169-5 by the end of the month.

0:57.7

And their two options for me are not the greatest, so I don't know which one to do.

1:03.1

They will either purchase a home, but I still have to bring $7,000 to the closing, closing plus 2,000 carrying costs every month.

1:13.8

It's not sold.

1:15.0

Or I refinance again with them at $143,000 and pay $33,000 at closing and then sell it

1:24.8

for keep it on the market for whoever knows how long.

1:27.9

I've tried reaching out to investors.

1:31.5

Who did you get this loan with?

1:34.8

With up equity.

1:36.8

Oh, okay.

1:39.2

So this is not a standard bridge loan.

1:42.1

This is an I'm going to screw you, Rachel. Uh-huh. In a very short period of time. Yeah. And I didn't realize that. And like I said, my situation, I mean, there was ramp, their crime was raising, and I needed to get my boys out of there as quickly as possible. You can't use that excuse anymore, because now you've stepped neck deep into stupid. What you should have done is gone and rented a property if you need to get your boys safe

2:05.1

instead of going into this instead of stepping up with some loan shark.

2:09.6

Yeah. So instead you went and bought a house that was not required for you to get out of the

...

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