Sell Our House To Pay Off Our $1,000,000 Of Debt?

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Ramsey Network

Business, Education, Investing, Self-improvement

4.5 • 839 Ratings

🗓️ 27 October 2025

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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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.
0:06.0	I'm wondering if, like, my situation is one of the kind of rare cases where you would suggest that I should sell my house to pay down debt.
0:13.0	And if not, then what should I do?
0:15.0	Okay.
0:16.0	How much debt do you have not counting your house?
0:18.0	Um, around five or $600,000.
0:22.9	Whoa!
0:24.7	On what?
0:27.3	My husband's school loans are $80,000.
0:29.9	My school loans are $45.
0:31.6	We have a debt consolidation loan for $45, and two cars that are ridiculously like the worst thing you've ever heard
0:38.7	I'll tell you if you want to hear it but I don't think you want to hear it you might just give me the
0:41.8	total um the total owed 67,000 on mine 62,000 on my husband yeah you're right okay and the big
0:51.5	the big thing I think the main reason I'm calling today is we owe the IRS $56,000, and they want to put a lien on our house because we owe over $50,000.
1:01.5	Yeah. What's your household income? I'm about to go back full-time making $11,000, and my husband usually would be making around $120, but he was just laid off at the beginning of the month.
1:16.1	And that's another part of the story is we have no emergency funds, so we're rocking it over here.
1:21.4	Oh, gosh, I'm so sorry.
1:22.6	So normally you would be at like, I mean, if you get everything going again, you'd be at like $2.30.
1:28.5	Yeah. And the house at like 230. Yeah.
1:29.0	And the house is worth what?
1:32.0	It's probably worth between 770 and 800.
1:36.8	Okay.
	...

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