My Son Is a Bum and About To Lose His House!
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- Опубликовано: 9 июл 2024
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This dude had 20 years to pay off a $60k condo and has not. What a major loser
I caught this too! How do you not pay that off in 20 years?!
or refinance it and take his parents off the note
He had enablers for parents.
Omg a condo that cheap would be a dream
I couldn't believe when she said $60k. I had no idea that was a thing still. If he can't afford that, there's no way he can afford rent anywhere. This guy is a major loser, dear god.
The bank felt he wasn’t a good credit risk by himself……guess they were right.
For a measley 60K loan too
Exactly pure child’s play and still fumbled the ball cause parents crippled him by enabling.
A 60k condo must have a mortgage of what $350? Just get freaking job at Target for $15/hour and he can pay that.
That’s what I am thinking. $15 an hour sucks but ubering while you look will easily pay that $350 mortgage
Louisiana 7.25 minimum wage
If I get made redundant, I'd rather get a low paying job until something more suitable comes along, than to sit at home playing X-Box and watching Netflix.
Starbucks 🥤
Yall need to realize they don’t give you full time hours, your doing part time, 20 hours a week, with bi weekly pay it’ll bleed you dry! and it end up being $400 every 2 week! How the hell do you expect anyone to live on that?
I love how John is like, forgive yourself for the divorce, don't resent your son, etc... and then Dave is like yeah... pay the condo off. your son is a deadbeat.
Well John makes no sense. This have nothing to do with the divorce.
Their statements aren't contradictory.
@@jimmymcgill6778 The man love to project.
@@jimmymcgill6778 It does make sense as he assumes that both parents have guilt that their son has divorced parents and that's the reason they co-signed the contract. They wanted to compensate their son for the pain they caused him.
@@mirabella2154 The divorce is done with. This had nothing to do with that.
If they took out a $40,000 30 year loan in 2004 at say 5% APR the payment would be about $200/month.This guy is in for some serious sticker shock when he leaves that condo and winds up renting an apartment at todays prices.
You know it.,that Cinderella songs gonna be playing in his head…”don’t know what ya got, til it gooone…”
Taxes an insurance. $400-$500.
You forgot HOA fees
He doesn’t realize the deal he had back then compared to today
@@stopthelightskinguilt.3775 most don’t until their current situation ends, do you know anyone looking at apartment prices when your in a condo/home ? Not really a concern, but it will be when his mom tells him to get out..he’s gonna freak out…200 payment on that is nothing, you could only work part time if you wanted to…he’s seriously gonna regret sitting on his ass and making his mother make him move out…don’t take advantage of someone helping you out…
Parents don’t co-sign loans for cars, student loans, and homes for your adult kids
Yes! This wisdom also applies to all relatives, My self described con-artist nephew asked me to co-sign a student loan.
My parents co-signed for my student loans and I agree with you. It only enabled my poor decision.
Exactly
I don’t have kids now but if or when I do I’m saving money for them in a 529. I will not be co-signing any student loans. Those were the conditions my parents gave me and I’m going to keep that same sentiment. I’m one of the only one of my college friends without massive student debt and I’m eternally grateful.
Parents co signed for me on a car, paid it all off
A 60,000 dollar condo with 30,000 left on the mortgage after paying for 20 years? Really? Why didnt they just pay it off a long time ago? It's practically free.
He's probably taken out money using the equity in the condo.
@@karlabritfeld7104 Would the cosigners need to approve reverse mortgages like that? I really have no idea how cosigning works.
who has 30 grand just laying around. not most of the country
@@The92Waffles That's not what they're saying, no one is judging him for not paying cash on the house originally, they're saying 20 years is enough time to do it. Even making minimum wage, that's a tiny monthly payment, way waaay below the median rent people are paying.
@@The92WafflesI was thinking the same thing.
I know exactly what I do with that if I had that kind of money
Does anyone else love hearing parents called out for the kids they've raised? I do.
After about 25 it’s on the “kids” Stop blaming parents after they’re adults
@@dmbgator86 Yeah, I know when I get puppies, and I just don't raise them properly and abuse them and teach them horrible habits that make them problems to be around, once they grow into adults I go "Its not my problem, don't blame me, it's the dog doing it". That's what responsible, sane individuals who certainly didn't just do a terrible job raising up something under their care, do. Just wipe your hands clean and walk away; not their problem anymore. Screw their kids, right? If anything, the parents are victims of these kids. The parents are just poor, helpless, innocents that are brutalized and mentally assaulted by their kids. I feel the same way when one of those dogs bites me.... how dare they!! Put them out in the woods and let them figure it out! Right?
I love to listen to naive people who think children are some kind of blank paper you can write whatever you want. Life would be so easy if that was the case.
As wrong as it may be to admit? Yep, but only because my parents were smart enough to instill responsibility in us because of both showing us, but us observing how HARD it was for them to do it, and they never complained. We knew and learned because we watched them. Of course, them being children when The Great Depression hit, they had NO choice but to learn and adapt to a hard life where NOTHING is a given and nothing is given to you. Five kids, in a small house, one bathroom, and living on the most basic of meals. I vividly remember times when my parents (unbeknownst to us kids back then) worried about making it until next week, and even though it was WAY, WAY before the welfare BS that is around now, they'd NEVER have taken a penny from it. I remember when my sister went somewhere and brought home some "government cheese" - remember that? My Father was very upset and told her to take it back. This from a family who for a lot of years ate spaghetti and left overs every night. NO charity. Church going, never missing even ONE weekend mass offering, even though I'm sure it wasn't much, they raised us right. None of us needed a cosigner because we were raised responsibly and knew if we didn't qualify for a loan on our own and didn't have the cash, we didn't need it. I'm not typing all of this to boast, rather to say I'm very blessed, thankful and grateful for having the parents who raised us to be responsible.
@@Cuntspiracy2.0not an entirely unreasonable statement although let’s remember that humans are far more complex than animals. I understand the sentiment but humans do have the ability to overcome bad parenting. I would argue animals are solely at the mercy of the owner. A dog isn’t thinking to himself “man my parents screwed up but I can turn this shit around” 😂
When I was first married, I had limited resources and needed a car. My dad co-signed a loan for me to get a decent used vehicle. It would have been extremely difficult without him backing me up. Paid it off no sweat. Responsible families do this for each other all the time. Thank you Dad.
Why get married with " limited " resources ??? A " car " is the kiss of death ! A car is what gets people into trouble ! Im 66 years old......graduated 1976, Never owned a car until I was age 24. To this day.... I have " owned " two vehicles. 1981.... Ford truck 7,500 dollars........ then my second truck... 2002........S-10 truck for 15,000 dollars. No one ever co-signed for me for anything.......including buying my farm !
You held up your end of the bargain, that's why there was no strain. They're talking about family members who do the wrong thing.
Nothing wrong with a parent co-signing for their young adult son or daughter -- if they raised them right. But this couple obviously didn't raise their son right. They raised a bum, and should have known he was a bum when they co-signed.
@@megalodon1726 Anytime " someone " co-signs " that someone becomes a bum !!!!! An easy way out. People need to learn to save money at an early age ! Not depend on others to make life easy for them !
Yes, well, that is one way of turning your responsible kids into irresponsible, lazy butts.
Holy sh!t 2004 it’s worth 60k??? How the hell has he not paid it off yet?
Probably bought a boat and a few cars on the equity.
Must be a dump
I don't think this lady knows what she's talking about. If they bought a condo in Ann Arbor, MI for $30k in 2004, it's worth 4-6x's that right now. There's not a $60k condo within 100 miles of Ann Arbor
How can people do this to their parents?
Some people can do it and still think they are the ones wronged
How can parents do this to their kids?
@@maureenogorman8740Even worse, they do this and still think they're owed something. I know someone like that. He was in his thirties with two daughters and he once told me that his dad was a bastard and other things I can't type here, because he saw a used BMW for $20k and when he asked his dad to buy it for him, his dad said no.
@KENTUCKYUSA1 do what exactly? Lessons may have been taught that went unreceived. Or do you mean why do parents enable?
@@lcam9241 Yes, why would you continue to baby a middle aged adult? Is it simply a way to hang onto them? Control them? You tell me, I am baffled.
I remember telling my roommate to get a job and pay his half of the rent...He held up his bottle of Jack Daniels and yelled "I'm looking!!!!!!!!!!!"
Did we have the same roommate? LOL
Hope you were able to ditch him right away!
Ooh boy 😢they are hard to get rid of
@@joyceboisvert9167yep
Better to leave
And not tell them to you're out, cus theyll do anything to stop you
Wow
This is why co-signing a loan is ALWAYS a terrible thing to do - all of the risk with none of the control.
Only bad if you have a loser child
It really is. Five months of car payments on my son's car.
Nope, NOT always. So tired of these statements like every choice is just black or white.
@@kbanghart give me one good, valid example of why a cosigned loan might not be a bad idea
@@Lon1001 easy. Because the two parties, relatives, have a great relationship.
My step son thought he was going to quit college, not work and sit around in our house playing video games all night. He was unceremoniously kicked out by my wife
What a good wife!!
One of the hottest job markets for low wages!
Then move
@@kbanghart You first.
@@15KHPCLUB ok
For a 300$ a month mortgage note even McDonald’s would do
@@ThePeanut12300 lol here in CA, the minimum wage for fast food chains is about to go to $20. $3200 gross a month (at full time)
How is this the hottest hiring market in history? People are getting laid off by the thousands every week.
Lots of part time retail jobs and server jobs available. They think you can get a few of those then get a 15 year mortgage on a home.
Pretty much every service job in America is hiring, exactly the type of job this guy is qualified. The layoffs are in big tech and something tells me this bum isn’t a software developer
Construction is understaffed and paying great. It’s physical work that provides a great lifestyle.
hottest for those who dont want benefits paid vaca /sick days etc
My friends are all getting jobs that are like double their salary. My current workplace is desperate for workers too. But two years ago I was laid off as Covid died and yet everyone was saying best job market ever.
It’s all by industry.
She has a dependent in his 40’s. He knows mom and dad are paying this. My goodness, I know we love our kids, but I pray to God that I raise my sons to be men.
There is a lot of blame to go around here. This guy's parents have coddled and enabled their son to be a bum his whole life, but he has also chosen to be a bum his whole life as well. I would have never even considered doing this to my parents. It shows zero consideration for your parents and he must have zero self respect to be so lazy and entitled.
She needs to contact the bank and pay off the mortgage, that gets her out of liability. THEN, if her and her husbands names are on the title, they need to go to court and have the judge issue a forced sale.
Her son is on the deed. If she pays it off, he will stay there probably and there is nothing she can do. She can buy it from him and sell it or he can sell it.
@@juditharsenault2131she cannot sell without him and he cannot sell without her. It is a hot mess
@@juditharsenault2131 Yes, there are three people on the deed. This is a common occurrence similar to when multiple heirs own a property and one wants to liquidate. The remedy is to have a judge issue a forced sale, and then divide the proceeds. Ive done it
Let your kids stumble & fall the way you did when you taught him to walk!
Good common sense advice. Don’t enable your kids into an irresponsible lifestyle. Teach them into a responsible one.
The Bible teaches parents to stir the nest, make life uncomfortable for adult kids who still live at home. Deuteronomy 32:11- As an eagle stirs up its nest and hovers over its young, He spread His wings to catch them and carried them on His wings.
This condo was 40.000 20years ago and 30.000 is still owed?! I don´t get it...
Probably took out heloc multiple times
I feel like the woman was confused and only said what was owed on it…not what it was worth
It's in Michigan.
🎯. There’s huge information missing. In 2004 in my city (nothing out of the ordinary) a 2500 sg ft house was around 300 grand and a 1000 sq ft two-bedroom condo 150. Now 20 years later the house is 700 and the condo 350 -400. Very very few places haven’t had this type of housing increase in twenty frigging years. Aside from the whole mortgage point of the OP, why not sell the thing before “losing his house?”
Look at the schedule of a 30 year mortgage
Son has lost the will to live. Sounds like depression. He needs to somehow ignite a fire within himself. I’m praying for him. 🙏✝️
I was about to say that. Sounds like the guy has metal health issues.
Finally, a kind comment! Thanks
Yes, well, if he had to live on the street, he might find the will to "live."
Bullcrap, he is just lazy. He needs to wake up
@@bigshotadventur18too many people saying I’m depressed and justifying laziness
Each time I hear one of these calls I respect my Parents EVEN MORE for never giving in to my or my siblings request to co-sign for ANYTHING. They raised four kids who ALL became productive and successful adults who can stand FIRMLY on their own two feet. Thank you Mom and Dad ♥♥♥♥
Blah blah
60k Condo? Is it a damn treehouse?
LOL. Has to be.
He can get a job at McDonald's and make the mortgage payments on a 60k condo! And it was financed with a 30 year loan. If he can't swing the payments on this, how is he going to make payments on an apartment when she buys him out?? He's not. What she's going to do is buy him out and then let him live there for free. 🤦🏻♀
That's exactly what will happen.
Don’t co-sign on your parent’s mortgage either. I’m 28 and I’m forcing the sale of the house to get 50k back that is owed to me. NEVER EVER DO IT!!!
Yep. Sorry you're having to go through all the pain.
So what happened with your parents?
@@kbanghart basically they lost almost everything in the 2008 collapse in the real estate bubble. They needed me to co-sign because they didn't have the income or a good enough credit score. The last few months, they couldn't pay the mortgage when they have credit card debt and two car payments and I had to. Years have gone by with lies and false promises to refinance the house and pay me back and it hasn't happened so I listed the house. I hope this nightmare ends soon.
@@MrBrewman95 ugh I'm sorry, that is horrible.
When my mom and dad divorced, my mom was fortunate to get a very good lawyer who advised her to request half of my dad's pension, in return for control of the property as they owned a few jointly It happened just before the RE meltdown so suddenly my dad was left holding several properties that were upside down. He was never a big saver anyway, he spent it. So all his (and the 2nd wife) income all went to mortgages. Before the crash he had great sales years and they traveled, after it he was broke. Meanwhile, mom can afford her bills. Sorry if this is kinda long.
My dad is co signing on a car for my 19 year old brother. A Mercedes with a $950 lease payment
I tried to speak some reason but didn’t work, nothing to do but sit back and watch now
Why do you think he can't make the payments? Even a part-time job could pay that if he lives at home and doesn't have any other big bills.
Co-signing on a lease. Wow, that is 2x stupid.
@@sprint7412 he can make the payments, he is leaving his apartment and moving back in with my mom so he can afford it
I just think it’s a mistake that could end badly but even if he pays it fine it is such a waste too
Wow
Just enjoy the show. Might as well not spend time being miserable. He could buy a car for $7,000. Cars are a total waste of money. They depreciate in value.
Calling it the hottest hiring market is a fallacy. Graduated from college and applied to over 200 positions that I was qualified for and matched the posting and was given calls back by 2 companies. Both just happened to be in my hometown and happened to have connections within the company. Its not about what you know at this point, its about who you know.
That's for a college grad position. For jobs in the $10-$18/hour range it's easy to get hired. A job like that is enough to pay his mortgage of under $300/month and buy food etc.
The caller's son isn't going to move out unless it gets forclosed.
$60k condo
Purchased in 2004
$30k equity after 20y
What was this guys mortgage payment? A ham sandwich?
Thirty year mortgage doesn’t grow equity until 15 years
The cheapest condo I could find in Ann Arbor was $135,000. She could literally make money off selling that thing. There’s no way that condo is only worth $40,000
The son isn't going to sell her the condo. She should just pay off the mortgage and walk away from the son's future issues.
You’re Dumb
A $60k condo even at today's interest rates is less than $400 per month. Even factoring utilities and everything else you could get a job at sheetz and pay that comfortably
I might be interested in a $60K condo.
Lol
You would need a time machine to go back to 2004.
My guess is, it's in Detroit Michigan since she lives in Ann arbor Michigan.
Even if she buys him out, she won't evict him and sell it. She'll continue to let him live there. Only now he'll have NO incentive to pay anything.
AND she'll get to pay the taxes and insurance.
Even if she pays off the condo, he will not pay the HOA monthly payment of $200-300. So it will foreclose eventually.
What fee? She can sell it.
She's buying & selling
The mother needs to go to the bank and pay off the loan.
She can then tell the son that was his inheritance.
Good one
As long as their names are no longer on the title, I like this solution. The condo is now 100% son's problem.
Best advice given right here.
This is the best answer yet.
The fact that he didn’t pay that tiny loan off in 20 years means he’s a LOSER
It has been TWENTY YEARS! If she & her husband co-signed when he was thirty just so they could get him out of the house, that would make him… good grief!!!!
Putting him out is the right move but also risky. When parents coddle & enable adult children & finally decide to stop some adult children snap in a bad way.
They failed him in parenting him and now this is the result
They owe 30k and have 11 more years of payments? They're only paying $2700 a year! Thats $225 a month and he cant make that payment?
He's in for a rude awakening when he goes out and rents an apartment at todays prices.
Dude....beer is expensive!
I work for a credit union and one of our members (older lady) pays for her adult sons (hes 40) bills and mortgage. He doesnt work
She's stupid.
I worked in banking too (here in Canada) and used to see it all the time unfortunately 😢Moochers!
Dave’s plan. Buy it from him waste money on closing costs. Possibly have to sell at a loss, lose more money. When you do sell lose more money on closing costs
Plan B. He sells it, whatever he profits he uses for apartment deposit and rent. Doesn’t cost you anything
Everything doesn't have to be so deep. "Forgive yourself for divorce"... she's an enabler
Yeah I thought that was a swing and a miss for Dr. John. He's always trying to find a way to cram in his advice, even when it's not applicable.
Cringe isn’t it.
"Forgive yourself for the divorce" came across as "stop trying to be 'the good parent' who continually attempts to make it up to the kids that you and dad split up and disrupted their lives in the process." 'Not so cringe when viewed from that POV.
@@user-mv9tt4st9k no I get the inference, and it’s quite an obvious one to make - it’s just not a counselling session.
It is John‘s delivery and shoe-horning in this on every single call that is cringe. I know he does it to sell and signpost his own show, but really it is jarring on the normal Ramsey Show.
He forgot to ask her if she was safe.
If he can't afford the mortgage on a 60k mortgage from 2004 renting in today's market is going to be a rude awakening for him. My dudes going to be moving back in with Mommy or homeless.
If physically able go do amazon, fedex delivery, door dash , but people think those low level jobs are beneath them, but when you can't pay your mortgage they're always there.
For most of history, people just did a job to pay bills. Now everyone wants a title to make strangers jealous. My husband is a trucker and I'm a daycare worker. I'm good with our middle America existence.
Not in all markets, sometimes you have to get in line to even start work.
You forgot to mention Uber and Lyft.
A 60k condo that he only paid half for in 20 years?? Was he paying 20 bucks a month on it?
John said the hottest hiring market. It’s actually not. So many people can’t find a job right now. Including myself. I’ve been unemployed since last August. I keep getting rejected.
It's tough times I send you positive thoughts and keep the faith you will find work very soon 😊
Apparently you’re just lazy according to Ramsey and his crew.
It is not a hot job market as people think it is.
Agreed. One of the major retiree boomer misconceptions out there. I’m over 100 applications and only 3 interviews 0 offers.
I’m confused about the math on this one. It’s worth 60000 at best, and it’s been paid on since 2004? 20 years? How is this thing not about paid off or paid off already?
Interest.
Great advice, guys. 🎉
Never co-sign, but also explain why. I wanted a care when I was young (I am completely responsible), but I couldn't get it w/o a co-signer. My dad wouldn't help me, but he never explained why he wouldn't. That would've been real helpful to understand his actions.
My dad loaned me a thousand
He will not move out and then she will have to evict him.
My parents never co-signed anything for me and the one time I actually asked my mom did me a huge favor by telling me co-signing is the #1 direct way to damage any relationship I have. Then she told me if she didn’t give a flying f*** about me then she wouldn’t have told me this at all.
NEVER co-sign for ANYONE. And I mean ANYONE. But especially don’t do it for a child, parent or partner you aren’t married to.
NOPE. Co signing is NOT always bad. STOP using CAPS to try to make your argument stronger lol.
@@kbanghart NO. Lol
@@Kyvax yep
I’ll disagree in part in them saying “hottest hiring market ever” because for me coming right out of the Army I had to apply to 8-9 different places just to get a call for a part time retail job. This is a common experience with almost everyone I’ve talked to.
"You could plasma your way outta that one." Fucking Delony! Spot on every time. LOL!!!
LOL that WAS the line of the day!
I stubbed my toe on my jog this morning. "Forgive your 3rd cousin twice removed"-John
When John said to forgive herself for the divorce, well, that was super cringe
Yea I was so confused as to why he brought that up 😂😂
I didn't realize he was a clinical psychologist as well as a financial advisor.
I disagree a bit with the never cosign for your children... I mean cosign when they are super young for something small like a cheap car to establish credit i would do that.
People are doing a lot of hiring but not for the desirable jobs. That being said, I was rejected all last year. This year I’m making the least I’ve made in years but taking a retail job, but my bills are getting paid again, slowly. It’s ok to humble yourself and do what you have to do but don’t cop out on your commitments
It's OK to do any old job temporarily. I worked in the Department store between jobs. Doesn't mean anything. You do what you gotta do.
You’re better off telling people no. Agreeing to do something stupid especially when it comes to something like this always destroys the relationship and messes up your credit and financial situation.
My heart goes out to this lady - but for other parents who might be thinking of putting themselves in this position by cosigning - be aware that the Bible forbids it. Proverbs 22:26-27
"Be not one of those who give pledges, who put up security for debts. If you have nothing with which to pay, why should your bed be taken from under you?" My Mom was a realtor, and pointed many clients toward this verse.
Man child is just going to end up living with mom.
Her son is like my brother. Still owes on a trailer bought 25 years ago.
It's wild how people dont want to spend X amount in one go but have no issue spending double or triple that amount as long as it's spread over a few years. Seeing the money trickle slowly out of their account psychologically might feel better, but you are paying a lot for that privelege. I get it with a Mortgage and bigger purchases because It's expensive enough you cant just save up for a few months, but people finance everything now. I even know people financing their clothes. It's insane.
Never really know the whole story in these small clips. Son could be a bum, could be a drug addict , Mom may have never told him no his entire life.
He's still a bum in all of those scenarios.
All the more reason to get him out of there
@@superblump87 Yeah, but if you raise him as a man baby, then she gets some of the blame as well. Women often raise there daughters but they love there son's.
1:24 "On of the hottest hiring markets in human history." John is still pushing this erroneous statement...
It’s true. Anyone can get a job in 24 hours. Have you seen the latest news on CNN?
I love your show. I used to listen to you on the radio . I’m a 75 yr old woman and can relate to this woman’s situation . I’m in a similar situation and too embarrassed to even call into your show but I believe all the advise you’ve given is absolutely right. I think it’s too late for me but she could certainly get her situation straightened out. You offer hope especially to older people who have let their kids take advantage of of them.
I don’t think I would let my parents co-sign if they tried. That would just put even more stress on me knowing that it could ruin the both of us if anything were to go wrong.
1:24 idk where he got that information from. We are in an economic crisis where the job market is so bad. At the same time, being unemployed since April 2023 is unacceptable
Never ever ever co-sign for anyone. He’s a bum. Get a job
Waiting for John to ask if she feels safe
Where is this Condo. that' s only worth $40,000-$60,000!!!??? It's like a Car payment!! Could've been paid off in no time at all.
Ann Arbor, MI
Wait hold up a minute. He owes 30 and it's worth 60, you bought it 20 years ago and he has 11 years to go. Something doesn't add up.
He probably destroyed it. It’s probably a mess and he never put work into it. So she lowballed the value
I aways say don’t mistake my kindness for weakness 🤨
Im 66 years old....... No troubles finding a job !!!! Problem is..... there seems to be only " one " of me ???? Please......people get to work !
😊😊I'm curious. What kind of job do you have? I'm 57 and overweight. I found a new job about a year ago. I think my age and weight hindered me while I was looking. I work in customer service.
@@galaxyglitterlatte4664 Im age 66..... 6ft. 5 in. 275 lbs. I make deliveries for a local lumber yard. 7 am to 5 pm. Hauling and "manually" unloading items. Anything from Concrete blocks... shingles..... ply boards...lumber sheet rock ( I hate carrying the 56 inch x 12foot sheet rock !!) Should have two people always ! ... etc. Im fortunate..... My limit for lifting......around 150 lbs. ....... no health issues !
Many contractors called me the long armed ape.....because I could reach up on the truck to unload things.
The owner cant find anyone to do the work. Hired a 22 year old guy..... worked there two days....and the owner had to go to his house to wake him up in the mornings....he was hung over. After doing that 3 times....he fired him.
Same basic issue with three others he hired. They just never showed up for work !
It's NOT the greatest hiring market in 2024. These people are not in touch with reality because they've been out of the job market for decades.
@1:26 lost me at hottest hiring markets. Bs. These people see the signs but dont actually apply to see for themselves. They want a very specific person and one position. Once filled they just leave the sign up because the office workers are lazy. I cant tell you how many times ive seen a hiring sign, went to put in an app on their website but theirs no open positions... call and get the same thing. Ive been running a small business to make just enough $ to pay bills and eat ramen while putting in applications EVERYWHERE, following up with calls for nothing. You cant say everywhere is hiring when you havent experienced what is really going on.
It's a $60k mortgage. He can flip burgers for that....
If someone asks you to co-sign for something they’re asking you to buy it for them.
Not always.
I can definitely relate to that.
Its such a hot market that it regularly takes 6 months to land a job. So hot right now, lol
Stop paying it.
If she's not in the market for a house, or taking out any loan. It does not matter what her score is.
If she’s at 820 she can afford to take a hit. Even if it dropped 100 points she’d still have good credit. Not ideal, but probably the best option
Yeah, there’s no way it doesn’t have enough equity to cover the debt and then some. Just inform him you aren’t making any more payments and they can choose between selling it to me at a fair price or the bank taking it away for an unfair price.
One more reason not to have credit. You can’t co-sign. Tell your kids you’re broke and don’t have credit. Then, put a gentle hand on their shoulder and say, good luck growing up
You either dont have kids, or you do, but you're a boomer. I hope, for the sake of the betterment of society, it's the former. If it's the latter, I hope your kids throw your old @ss in a home the second they get a chance and treat you how you treat them.
How is a 60k condo from 2004 not paid off 😭
This typically happens when the parents didn't teach their kids right growing up. It's entirely possible that his parents are narcissists and ruined him from an early age.
Man, this show boosts my ego big time lol.
Honestly I think this is unrealistic advice. I don’t think she will kick her son out on the street. $30k is a manageable amount of money. She should pay off the loan as a gift and tell him he never gets a penny from her again. Tell him it is him getting his inheritance in advance and he won’t inherit a penny on the will. It cleans up her own financial mess and salvages what’s left of the relationship without kicking her son out on the street.
It’s not his inheritance in advance, its 30k less invested for her retirement. Who says she can afford to just gift him 30k? This is money that will be tied up for the rest of her life with zero liquidity (unless she kicks him out and sells) and zero return (unless he starts paying her rent). I don’t understand your logic at all.
@@dlyras she said during the call that she can afford it. You are misunderstanding my logic completely. I was saying she should gift him the entire property, pay off the loan, and fully remove her name from it. No liquidity and no return, just a one time stupid tax and say very clearly to him that he doesn’t get one penny from her ever again.
Seems fair honestly, but an adult child who put their parent in that situation will likely cry a river about being cut from a will essentially.
@@tylersanders2388 She said she can afford it meaning she probably has the cash, but she may not have the foresight to realise how it impacts her retirement years. One time stupid tax sounds more like, and yes you’re probably right. For her own sanity she should just rid herself of this. What a mess. Never co-sign for anyone, especially family. They are the most entitled.
He would still have to pay his HOA dues and property taxes, not to mention repairs, utilities and miscellaneous expenses.
Never co-sign anything for anybody ever. In this scenario, if I were this woman, an alternative would have been to buy the townhouse myself, get a property management company to deal with collecting rent, and make the son a tenant. If he doesn't pay, he gets evicted. If he does pay until the mortgage is paid off, then I'd deed the property over to him. The worse is you end up being a landlord to some other tenant and your son stops talking to you.
Geeze Louise, he's had the condo for 20 years? How can there still be $30,000 left on the mortgage? Did he refinance at some point? How can there be another 11 years left? To lose it after all that time would be ridiculous. Why wouldn't he just get a minimum paying job and a temporary roommate until he finds a better job? I guess he just knows his mom will always bail him out.
How on earth has he not been able to make mortgage payments on an apartment worth $60k!? My 16 year old niece working at McDonald's could have even managed that. You have to be a special kind of lazy to not make these payments, just wow...
What are they talking about, the hiring market SUCKS right now.
Yea idk what they are talking about.
must be stuck in 2021/22
Compares to 2008? Nooo
Are you the son?😂
I ❤the Ramsey team!
You can plasma your way into that one 😂😂💀fr tho
I could not imagine doing something so terrible like that to my own mom that she has to make a decision like thos
They need to meet my brother. Hasn't worked in 4 years lol
“This is the hottest hiring market in human history?” 🤔
"Do you want fries with that?"
"That'll be 4 bucks baby!"
Jobs that pay nothing are plentiful. Uber pays nothing
Well this guy’s mortgage costs nothing, so a job that pays nothing is enough!
@@adamseidel9780 we don’t know the whole story. What if he had no car? No car no job. No credit no income no car. He could be stuck. If he does what Dave says he would be homeless with no chances left
Plasma your way to that one 😂😂
Co-sign only when you'd sign it yourself but want to gift them the chance to be responsible. So if you wanted to gift a car or college and have the money for it, co-signing is an option. Never sign expecting not to have to pay
In other words, when you lend people money and they actually pay you back, consider it a gift.
How is a condo in 2024 worth $60,000? Is it 150 square feet?
probably a thousand a month hoa to boot !
It’s probably barely habitable. The guy’s a bum, he probably doesn’t even care. $350/month is way lower than he’d be paying anywhere for rent, so he went with it.
Her son is guilt of elder abuse. I have no doubt Mommy buys his food and gas too. There is the likelihood the son will never sign the dotted line to sell. The best action in my opinion is to get a court order to force the sale by a judge. Sell it at market, and divide the proceeds three ways. Fastest and cheapest way out. And tell your son you divorce him as well as his dad.
She choose this enabled him all his life
They raised him to be this way. They reap what they sow
Son couldn’t pay off 30k in 20 years. If he paid $1500 for the past 20 years he would have paid it off.
This is so common with moms and sons. I bet she wouldn’t do this if it was a daughter