This Is Like A Dumb & Dumber Sequel!

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 26 October 2023

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today's episode features Ken Coleman & George Kamel. The Ramsey Show Highlights 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, Dr. John Delony, George Kamel & Jade Warshaw. Part of the Ramsey Network. Delivered to you seven days a week. Budget for free with EveryDollar: Click Here Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today.
0:06.0	Max, how can we help?
0:08.0	Hi. So I recently invested 20 months ago in a piece of real estate. I got it for $385,000.
0:18.0	It's probably worth at least half a mill today, but probably like half a mill to
0:23.5	550. And the problem is I'm 25 years old, and I've been kind of renting out rooms while
0:33.7	living here to friends. And everything's going great, but my co-signer was not a parent or a girlfriend.
0:43.5	It's actually a person that I've worked with at a restaurant.
0:47.7	And she recently told me that she would like her name to get off of the loan so that she could start
0:56.0	looking for a piece of real estate for herself.
1:00.0	And my loan is not assumable, and the only way for me to get her name off is to refinance,
1:06.7	which would double my interest rate right now.
1:09.1	Oh, where's my tombs?
1:10.7	Where's the ball?
1:11.4	Max, Max, Max.
1:13.4	Dude, this is like a dumb and dumber sequel.
1:16.5	How did you guys get into this mess?
1:18.2	So you can't afford the house.
1:19.8	And this friend is like, hey, bro, I'll sign for you.
1:24.1	Yeah, I'm good for the money.
1:26.3	Did you not think about what would happen later on down the line
1:29.1	and whether or not they're going to want a piece of this and how they're going to get their name off?
1:33.3	So I thought about it and within, because I'm a contractor type. So I thought, okay, within
	...

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