Stop Trying To Borrow Your Way Into Freedom
The Ramsey Show
Too-Large Mortgage Means Sell the House
Caller with a house payment consuming 40% of income is advised to sell unless income rises significantly; being 'house poor' stunts financial progress.
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Dave Ramsey and Rachel Cruze answer your questions and discuss:
- "Does it make sense to have a business credit card to get cash back on big purchases?"
- "We bought too much house, how do we balance paying this down vs. investing?"
- "I'm 21 and still live at home with my parents. Should I sell my car so I can afford to move out?"
- "How do my fiancé and I combine finances when I have way more saved than he does?"
- "We have $235,000 in student loan debt and have a baby on the way. How do we get on the same page to tackle this debt?"
- "Why don't children have an obligation to care for parents financially?"
- "My wife wants to upgrade the house but I would rather pay down the mortgage. Which idea is better?"
- "Should I pull from retirement to purchase a second property?"
- “Can I afford to buy a Harley Davidson?”
- “What should we do about our daughter who refuses to pay parent PLUS loans?”
- "I made a dumb decision with my house. Should I file bankruptcy?"
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