Should I Rebuild My House After Losing It in a Fire?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 28 April 2021

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Christy Wright, Anthony ONeal, and Dr. John Delony. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's Wednesday, and this is the Ramsey Call of the Day.
0:03.6	Part of the Ramsey Network.
0:06.5	Joining me today is Ramsey Personality, Christy Wright.
0:10.6	Bob's in Sacramento.
0:12.0	Hey, Bob, welcome to the Ramsey Show.
0:14.4	Hi there.
0:16.3	Scenario is I've done everything wrong according to you, Dave.
0:21.1	Well, thank you for your honesty, Bob.
0:23.5	I'm sorry.
0:24.5	My wife and I have a mortgage on our home of about 550,000.
0:31.0	We also lost the home in August to the wildfires.
0:36.1	Oh, no.
0:36.9	I'm so sorry. I'm sorry.
0:38.4	We had just refinanced from a 3.5 to a 2.75 in May.
0:47.6	I got another call from the mortgage company in November and said,
0:52.4	would you like to lower that the 2.25?
0:56.6	And I said, can you finance air? And they said, yes. So I took the 2.25 loan.
1:05.1	I have enough capital that I could pay off the loan. The only problem is the price of two beforeers has doubled,
1:14.5	and with the insurance settlement,
1:16.1	I don't know how much home I can build if I pay off the loan.
1:20.7	So I need your wise advice.
1:24.8	So what will they give you for the burned house?
	...

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