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The Ramsey Show

Are You Ready To Go Scorched Earth on Your Debt?

Fri, 17 Jan 2025

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πŸ’³ Share your thoughts and you could WIN a $500 Gift Card! πŸ’Έ Start taking control of your money in 2025 at our free livestream George Kamel & Dr. John Delony answer your questions and discuss: "My ex-husband is coercing our daughter into a $600,000 mortgage," "How do I start investing for retirement?" How the California wildfires impact everyone, "We think a bank employee is embezzling money from our bank account," "My parents bought whole life insurance for me as a child," "We regret purchasing a fixer-upper," "Borrow from my 401(k) to pay off debt?" Support Our Sponsors: 🌱 Get 10% off your first month of BetterHelp β—Ž Get 10% off Byrna product bundles and more! πŸ₯ Learn more about Christian Healthcare Ministries 🏑 Get started today with Churchill Mortgage πŸ”’ Get 20% off when you join DeleteMe 🏦 Go to FAIRWINDS Credit Union for an exclusive account bundle! πŸ₯— Save 15% on your first Field of Greens order with code RAMSEY πŸ’Έ Learn more about opening a high-yield savings account with Laurel Road πŸ’» Visit NetSuite today to learn more πŸ—‚οΈ Use promo code RAMSEY for 18% off at The Nokbox πŸ’΅ Learn more about Timothy Plan πŸ› Get started with YRefy or call 844-2-RAMSEY πŸ” Visit Zander Insurance for your free instant quote today! Next Steps πŸ“±Β Listen to the full episode for free in the Ramsey Network app. πŸ“ž Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or click here! πŸ“ˆΒ Are you on track with the Baby Steps? Get a Free Personalized Plan πŸ’΅ Start your free budget today. Download the EveryDollar app! πŸ’ͺ Invest with confidence! Get tickets to Investing Essentials πŸ’°Watch 90-Day Money Makeover. 🏘️ Free Tools & Resources to Reach Your Home Goals Listen to more from Ramsey Network πŸŽ™οΈ The Ramsey Show Β  🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour πŸ’‘ The Rachel Cruze Show πŸ’Έ The Ramsey Show Highlights πŸ’° George Kamel πŸ’Ό The Ken Coleman Show πŸ“ˆ EntreLeadership Learn more about your ad choices.Β https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

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Transcription

Full Episode

15.342 - 39.411 George Kamel

From the Ramsey Network, this is The Ramsey Show, where we help people build wealth, do work that they love, and create amazing relationships. I'm George Camel, joined by Ramsey personality, Dr. John Deloney. We're taking your calls at 888-825-5225. We'll do our best to give you the right next step for your life, your money, your mental health, your relationships, whatever is going on.

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40.011 - 42.732 George Kamel

Shannon's going to kick us off in Phoenix. What's going on, Shannon?

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44.215 - 45.316 Shannon

Yes, hello. Hey.

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47.857 - 48.258 Dr. John Deloney

What's up?

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49.719 - 76.152 Shannon

Oh, okay, so I'm calling because my ex-husband and I bought a townhouse for our children to live in during college, and then four months later I filed for divorce. Our divorce was final, but in the divorce they didn't split up the property because my oldest daughter was on the title in the mortgage. So then after that, I had to get a real estate attorney.

76.192 - 101.086 Shannon

And we're now at the point where we have a legal agreement for my ex to refinance the property and get my name off the property. Or if he doesn't do that by March 1st, then we sell it. But this is... being contentious. And my issue is for my daughter. He's telling my daughter that she has to be on the refinance of the property.

101.186 - 125.759 Shannon

And I'm just want to give her the right information for her financial security for her life. If it's a good thing for her to be on the mortgage of this $600,000 property. Is she in school? She is a junior and she also is a real estate agent and she is making about $50,000 a year.

127.472 - 133.038 Dr. John Deloney

Yeah, that's not even in the same plan. It is a $600,000 mortgage. I know.

133.598 - 138.263 George Kamel

She was artificially propped up with you and your ex paying the mortgage. Yeah, she shouldn't be on it. Right.

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