Suck It Up, Buttercup!
The Ramsey Show Highlights
Ramsey Network
4.5 • 839 Ratings
🗓️ 8 August 2024
⏱️ 19 minutes
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| 0:00.0 | Brought to you by the Every Dollar app. |
| 0:04.3 | Start budgeting for free today. |
| 0:06.6 | So question for you. |
| 0:09.2 | My left and I, last year, we bought too much house. |
| 0:13.0 | And to change our situation, we've chosen to sell, we're running into some roadblocks. |
| 0:19.8 | And so I wanted some guidance. |
| 0:22.3 | And I'll jump into the numbers with you. |
| 0:24.8 | Okay. |
| 0:25.6 | What are the roadblocks? |
| 0:27.6 | Yeah. |
| 0:28.0 | So, bought our house last year, 365,500, put 5% down, which is about 20K, 7% interest rate. |
| 0:38.2 | Currently, we still owe $342,000. |
| 0:43.0 | And our... |
| 0:43.3 | Whoa, whoa, whoa, whoa. |
| 0:44.6 | How do you owe $342,000 when you only borrowed $246? |
| 0:49.3 | Sorry, 366. |
| 0:51.5 | Oh, 366. |
| 0:53.8 | Okay. |
| 0:58.8 | And you, so you put 20 down, so you had a 346, and now you owe 342. Okay. Now I'm catching. Correct. Good. Okay. Thank you. Sorry. Yep. I make 71,000 a year. We have |
| 1:07.1 | no other debt, but this, this home is more than 50% of our take-home pay. |
| 1:14.7 | So it was an unlawed choice. |
| 1:17.3 | In January this year, we decided we needed to make a change. |
... |
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