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an hour ago
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Woman Says 'We're Four Months Behind' On $465,000 Mortgage Bought With Ex — And Has $25,000 In Debt On Top Of It
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. On "The Ramsey Show," Janelle from Raleigh, North Carolina, said she and her ex are four months behind on a $465,000 mortgage. She explained that she had built up $25,000 in debt and now faces possible foreclosure. The loan, still in both names, has become the centerpiece of a financial and legal standoff. In June, co-hosts George Kamel and Ken Coleman heard Janelle describe the fallout and ask what to do next. Mortgage Still Standing After Breakup Janelle said she and her ex bought the property together, but they split about a year later. She moved out and began renting elsewhere, while both names remained listed on the mortgage and deed. Don't Miss: Would you have invested in eBay or Uber early? The same backers are betting on . , which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. "We're four months behind," she told Kamel and Coleman, adding that they had tried to sell the home but still have not found a buyer. The outstanding balance remains at $465,000. Coleman noted the legal stakes, saying, "You are legally obligated to pay that [mortgage], whether you've moved out or not. Her ex had initially covered payments but eventually stopped after she left. Janelle also halted contributions, explaining that rent and other expenses left her strapped. Considering A Short Sale "We're in the process of asking the mortgage company for a short sale to see if that's even possible," Janelle said, noting $12,000 in missed payments and no offers on the table. Meanwhile, Kamel warned that catching up on payments is critical to avoiding foreclosure. He advised halting 401(k) contributions and unnecessary spending, using all available funds to cover the arrears. "You need to act like everything is on fire," he said, adding that either a quick sale — even at a lower price — or additional income could be the best path forward. Trending: Kevin O'Leary Says Real Estate's Been a Smart Bet for 200 Years — Buying A House With A Partner According to the National Association of Realtors, 6% of all recent home buyers were unmarried couples and the highest share of unmarried couples came from younger millennials, where 13% of buyers were unmarried partners. Unmarried couples who co-own homes face real risks — especially if the relationship ends unexpectedly. In North Carolina, for example, unmarried partnerships receive no special legal protections, making early planning critical. Experts recommend formal agreements like cohabitation or property agreements to clarify ownership, expense-sharing and, exit plans. Title structures also matter — joint tenancy provides equal ownership and automatic survivorship, while tenancy in common allows for unequal shares and different inheritance paths. These legal safeguards help prevent disputes that can echo the complexities of divorce. Read Next: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Image: Imagn Images This article Woman Says 'We're Four Months Behind' On $465,000 Mortgage Bought With Ex — And Has $25,000 In Debt On Top Of It originally appeared on Sign in to access your portfolio
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5 hours ago
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Texas woman says she can't access paychecks, has no say in marital finances. 'Take control,' urges Ramsey Show
Ellie from Dallas, Texas, knew something was off in her marriage. After years with a financially controlling spouse, she's finally ready to leave. The problem? She doesn't have access to the family's money despite earning $40,000 a year as a part-time nurse. Feeling trapped, she called The Ramsey Show for advice. 'He's gotten so financially abusive,' she said in a recent episode. 'He transfers what he wants — my allowance — to my account. I can't see the other accounts.' Hosts Dr. John Delony and George Kamel didn't hold back. 'I can tell you right now: he sucks,' Delony said. 'That's not a way to be married to somebody.' But after hearing all the facts, they encouraged her to put her anxieties aside and take a real step toward getting out of this situation. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Financially trapped? Despite raising concerns with her husband — even saying she no longer feels safe in the marriage — nothing has changed. Ellie has tried to talk to her husband about their joint financial situation. She's gone so far as to tell him that she doesn't feel safe in the marriage. But even these relatively drastic measures haven't made a crack in the ice. After hearing Ellie's story, Delony didn't mince words: 'He has left you so long ago. He just never filed papers.' He urged her to grieve the reality of her marriage, then shift focus to what comes next. Her biggest question: 'How do you get out when you have no access to any of the finances?' Ellie earns $40,000 working as a part-time nurse, but her paychecks are deposited into a joint account — which her husband controls. Once the money hits, he transfers most of it into an account she can't access. 'But you have control, you have say in the joint account, right?' asked Kamel. Technically, she does. But Ellie's afraid to withdraw more than he 'allows,' fearing retaliation. She worries he'll cut off essentials like her phone or car insurance if she pushes back during a potential divorce. 'Is this real?' asked Delony. Read more: Nervous about the stock market? Gain potential quarterly income through this $1B private real estate fund — even if you're not a millionaire. Taking ownership of your finances The hosts believed Ellie's fear of financial uncertainty during and after divorce was keeping her stuck. 'You make $40,000 bucks a year, and you could turn a switch on and make $65,000 starting tomorrow… you could have an apartment tomorrow if you wanted one. Period,' Delony said. Instead of dwelling on obstacles, the hosts urged Ellie to focus on solutions. Kamel recommended a first step: redirect her paycheck into a new individual account only she controls. While her husband may retaliate, it's a necessary move toward financial independence. 'You're going to take ownership of the things you have control over — and there's more in control than you think,' said Kamel. With access to her full income, Ellie could afford her own one-bedroom apartment and start covering her own bills. As for legal help, Delony advised finding a divorce attorney who accepts payment on the back end — a common option in situations like hers. If a retainer is required, regaining control of her paycheck could help her save for it. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Solve the daily Crossword
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3 days ago
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'The House Is Going To Snap Your Neck'—Dave Ramsey Says, 'Broke People Shouldn't Buy Homes.' Here's What He Proposes Instead
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Personal finance expert Dave Ramsey is known for his unrestrained takes, and his latest comments on homeownership are no exception. In a recent episode of 'The Ramsey Show,' he warned against rushing into buying a house without financial stability, saying, "Broke people shouldn't buy homes." Why Being House Poor Is A Bad Idea Ramsey said owning a home can be a great way to build wealth, but only if you do it the right way. Data from his team shows that most millionaires reach their first $1 million to $5 million in net worth through two steps: consistently investing in retirement accounts like 401(k)s and Roth individual retirement accounts for 10 to 15 years, and owning a home they can afford and eventually pay off. Don't Miss: Would you have invested in eBay or Uber early? The same backers are betting on . Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — However, he cautioned that these "smart" moves become harmful when done recklessly. "Buying a home is the same thing. Broke people shouldn't buy homes," Ramsey said. "Because you know what happens if you're broke and you buy a house? You get broker." Instead of stretching to purchase, Ramsey advises paying off debt, saving for emergencies, and ensuring you can afford a 15-year fixed-rate mortgage with payments under 25% of your take-home pay—and without a co-signer. 'Otherwise, the house is going to snap your neck.' Rent First, Buy Later For those itching to leave their current living situation, Ramsey suggests renting as a stepping stone. "If you are living in your mother-in-law's basement and you want to be free, I don't blame you. Go rent a one-bedroom apartment," he said, noting that temporary rental arrangements are a normal part of building financial stability. Trending: This Jeff Bezos-backed startup will allow you to . Ramsey also pointed out that modern expectations for home size are inflated compared with past generations. He recalled growing up in a 1,000-square-foot house with one and a half baths and said, "Let's just calm down a little bit here and live within our means. It's a new concept. I've made it popular again." Smart Moves Done The Wrong Way The host tied this idea to other life decisions. "When you do a smart thing a stupid way, it's stupid. It's no longer smart," he said, using examples like overpaying for a car or taking on massive student debt for a low-paying field. In each case, the initial goal might make sense, but the execution can destroy your finances. Ramsey's bottom line: Don't let desire override logic. Build a solid foundation first, and then buy a home in a way that becomes a blessing—not, as he put it, something that will "snap your neck like a twig." Read Next: In a $34 Trillion Debt Era, The Right AI Could Be Your Financial Advantage — 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. This article 'The House Is Going To Snap Your Neck'—Dave Ramsey Says, 'Broke People Shouldn't Buy Homes.' Here's What He Proposes Instead originally appeared on Sign in to access your portfolio
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5 days ago
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Dave Ramsey Advises Caller Feeling Guilty Over $150,000 Inheritance After Estranged Sister Left Out Of Will—Says Money Won't Fix A Broken Relationship
Financial expert Dave Ramsey urged a listener to set aside guilt and avoid using inheritance money as a bargaining chip for family reconciliation. Caller Says Estranged Sister Was Left Out Of Will, Learns At Funeral In August, on The Ramsey Show, a caller named Cody described inheriting roughly $150,000 in cash and investments after his mother's death. His older sister, estranged from the family for about a decade, was intentionally left out of the will, a fact she discovered at the funeral. Cody admitted he felt guilty and considered giving her part of his share to mend the relationship. "That's painful. I'm sorry," Ramsey told him, adding that the situation should have been addressed while the mother was alive. "You didn't do this. Your mom did this. If your sister wants to be angry with someone, it would be with your mom." Trending: Would You Have Invested in eBay or Uber Early? The Same Backers Are Betting on Ramsey Says Inheritance Is 'Not An Entitlement' Co-host Rachel Cruze echoed the sentiment: "It feels like she has to be paid to get back into the family. That feels weird to me." Ramsey warned that "money won't do that. It will not mend a relationship," comparing it to "buying" affection, which he called a counterfeit connection. He also stressed that inheritance is "not an entitlement" and that changing the will's intent would be "somewhat unethical." Caller Hides $1Million Inheritance, Weighs Helping Fiancée's Parents In Debt Earlier, a 26-year-old law student named Nathaniel called The Ramsey Show seeking advice on whether to help his fiancée's parents, who are $25,000 in debt after a failed investment. Nathaniel, who inherited $1 million and keeps it in a low-risk trust, has not told his fiancée or her parents about the inheritance. With marriage approaching, he struggled over whether withholding financial help would be wrong, given that the debt came from the parents' mortgaging their fully paid-off apartment for a risky venture. Ramsey and co-host Jade Warshaw told Nathaniel that honesty with his fiancée comes before any financial issue, urging him to have an open conversation right Inherits $14 Million, Discovers Family Friend Was Likely His Father Once, a 31-year-old caller stunned The Ramsey Show hosts John Delony and George Kamel by revealing he had unexpectedly inherited between $10 million and $14 million from a man he believed was just a family friend, only to learn through the will that the man was likely his biological father. The caller had never met him, though he received annual birthday cards growing up, with his mother brushing off questions. Now legally recognized as his son, he is also responsible for arranging the funeral. The duo laid out a list of practical next steps: bring on a lawyer, therapist, certified public accountant, investment advisor, insurance broker, and eventually a real estate agent. The caller noted he does not currently own a Next: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share. These five entrepreneurs are worth $223 billion – they all believe in one platform that offers a 7-9% target yield with monthly dividends Photo courtesy: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Dave Ramsey Advises Caller Feeling Guilty Over $150,000 Inheritance After Estranged Sister Left Out Of Will—Says Money Won't Fix A Broken Relationship originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
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11-08-2025
- Business
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NYC man wants to sell company to 'sketchy' partner for $600K — The Ramsey Show hosts say don't 'cash out' quite yet
After building a successful painting business from scratch over the last three and a half years, a New York man is walking away — but not without a hard lesson in what can go wrong when you go into business without safeguards in place. The caller, who didn't share his name on The Ramsey Show, said the company he started with a co-founder grew to support 12 employees and had all the infrastructure to deliver high-end home paint jobs. But behind the scenes, tensions were simmering. And eventually, his business partner crossed the line. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now 'He's started other businesses within the same shop, taking resources from my business,' the caller explained. 'Anything from putting the wrong things at the paint store on other accounts, XYZ, and sketchy checks that were cashed in his other bank account — we're talking $6,000.' That wasn't just unethical, said co-host Dr. John Delony — it was criminal. 'It's called theft and fraud,' he said bluntly. A shady operating agreement Things came to a head when the co-founder, acting without his partner's knowledge, had an attorney draft a 20-page operating agreement. The caller — who had never formally signed one — reviewed the document and discovered a buried clause that would strip him of any real power in the company. 'He hid a clause in there where it assigned him as the executive manager and put me as just a member of the company,' he said. Rather than signing it, the caller lawyered up. He's now working with a legal team and a forensic accountant to understand the complete financial picture and exit the company. He plans to sell his share back to the co-founder for anywhere from $300,000 to $600,000 — a wide estimate that has yet to be confirmed by a professional valuation. Delony and co-host Jade Warshaw urged him not to rush the deal. 'Wait 'till all that smoke clears before you accept an offer,' Delony advised. 'You don't know how much money's been going out the back door.' 'You don't even know what you're basing it off of. And that's the hard part.' Warshaw added. Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Road trip or reset? Once the caller gets his payout, he says he plans to travel across the U.S. with his ATV and visit friends — a kind of soul-searching road trip after years of burnout and betrayal. But the hosts urged caution. 'That's your version of, 'I'm taking my ball and going home,'' said Delony. The caller shared that his dream is to paint luxury homes solo in a mountain town where he can also ski — a one-person business, far removed from the chaos of managing employees or fighting legal battles. Still, Deloney advised him to focus on the current situation. 'If you get an offer for $450,000, you haven't taken out taxes. You haven't taken out attorney's fees. You haven't taken out assessor fees. You haven't taken out tax fees,' Deloney said. ' And if you get an offer for $450,000 — which might be a super fair offer — you're going to feel like this partner just took $150,000 from you 'cause you just made up a number.' Lessons for entrepreneurs The caller's story is a cautionary tale for entrepreneurs entering partnerships without a formal agreement. To avoid this situation, here's what we can learn from this conversation: Draft an operating agreement at the outset and have a clear exit strategy. Keep personal and business finances strictly separate. Regularly reviewing business transactions and requiring dual sign-offs for major purchases. Using a neutral third party for business valuations if a buyout becomes necessary. For this caller, that planning may have saved him time, stress and money. But now, as Delony put it, the priority is 'just getting through it and making good choices on the way out.' What to read next Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
