“Suck It Up, Buttercup!” 

This is a great example of how one's life can turn 180°. The guy had no debt, making a regular salary, and decided to get a house probably because he felt ashamed he didn't have one or "needed" one. People, please dont let your ego lead you to unwise decisions. Partners, be supportive. If it is going to take 3 more years of saving to move to a new house, so be it. Rather that than something goes wrong and now you are looking at 10 years of suffering just to get back to where you were.

At least he called the show for advice which is a step in the right direction. Prayers up for this young family

"I just overpaid on a house and have a baby on the way. I think I'll change jobs and move".

Ted, I’m praying for you. Learn from your mistakes and move forward. Your wife and babies are counting on you. You got this.

Maybe beg his company to let him keep his old job. It can't hurt.

Did we just gloss over the fact that he was supposed to be at the new job in July and didn't show up? Does he even still have that job? He may be unemployed at this point.

GOOD LORD!. Listening to some viewers on this program makes me feel like a scholar!!

Who approved this guy for a loan of 366k making 71k..that math definitely aint mathing!!!

This has to the most absurd decision making I have ever heard of. Trying to sell a house that he couldn't afford, quitting his job to move to another state that is even more difficult to buy/rent, with 2 kids and a 3rd on the way. Holy cow, this guy is beyond bold.

Never have I heard a better illustration of “Hope is not a strategy.”

I can’t breathe listening to this.. great piece of advice: “IF YOU’RE IN A HOLE, STOP DIGGING”

Buying a $366K house on a $71K income is kind of stupid if you ask me

"The situation at work was not what i was expecting it to be." So, let's leap first and look later.

For all the regular minded people out there who have been outbid by people waiving inspection for the past 3 years, this is the person (and others like him) that were getting the house you wanted and could afford.

I make 150k a year and bought a 200k house. I don’t get some people. I guess they just like being broke.

A woman I worked with resigned then fell pregnant with 1 night stand (3 month notice) threw herself at the mercy of managers to back out. They did it !

The problem with our society we buy things we cant afford and it creates such problems down the road

This lady with Dave is super-smart 👏👏

2809 monthly payment while making 71k annually gross.... How is that even possible to get approved on??

On what planet can they think that can afford 3k in housing in 70k salary ... That's completely absurd

You know, that’s how it’s been forever in the history of humanity… My grandpa would’ve much rather have been an engineer, but he grew up a farmer and retired a construction worker… All his life he did what he had to do to keep his family clothed and fed, he was tired, hungry most of the time, but he was accomplished in his goals. They always had a roof over their heads, everyone was healthy. He died at 94yo after his PhD daughter hired an ambulance to take him back to his home state to see his ancestral land one last time. He died happy at the hospital nearby 2 of his daughters who had moved with their family to their home state… That’s what we parents do… We do what we have to… Not “what fulfills us”, not “what we like doing”…

Does anyone remember the "Great Recession?" People buying homes they couldn't afford and mortgage lenders enabling this insanity. It's true, we tend not to learn from history. So sad snd so scary.

Back in 2014 I was making about $65k and when I bought my first house I refused to go above 150k on a house. The bank allowed me 168 and said call them back if I needed more. I bought a house at 150. I can’t wrap my mind around buying a house at 366k on 70k income! How did the mortgage company allow that?????

He’s never gonna get what they owe. Selling a house quickly after moving in more often than not says “I’m desperate to move, lowball me” He’s toast

I don't understand why the answer wasn't to keep the house, drop the Nevada job, get literally any job where he lives to put food on the table, not pay the mortgage he wasn't gonna pay moving to Nevada anyways, and keep applying to get hired a comparable job to the previous job in the area of the house, and try and catch up on missed payments.

*The amazing skills of real estate are that it help keep the family, aid financial support, and can serve as a retirement tool when retired. It's passive income which rewards hard work and patience*

It’s incredible how so many people can’t think even 1 step ahead of their current situation. They just pull the trigger. Guy has 2 boys and a 3rd on the way for f$&@s sake 🤦🏼‍♂️

Well said Mr. Ramsey, well said. “Toxic work environment” .. Suck it up and take care of your family!

This guy was so hoping for Dave to tell him to just move and dump the house.

They obviously couldn't afford that house. And the wife needs to get a job even if it running a daycare in her house a few months after the baby is born. They cannot afford to have her not working.

A huge part of DR podcast is to educate others about what not to do. We learned alot here. I hope he can bare down and get in front of this. God bless this family, all families and for helping us to be good stewards.

Did she say “shiiiiit!” 🤣

I’m gettin 2008 feels. Too many got fomo and bough a home without thinking about it

Love the Daveisms, “suck it up buttercup “, “ dad gum” and “honey”.

Wow, this guy went from having everything to nothing in less then 6 months. People who are not satisfied or content with their life, amazing!

My wife says that to me all the time! Sometimes Buttercup is not the word she uses.

I’m just curious how this guy even got approved for that mortgage to begin with.

Dave, I love how you include a co host but never let them say anything. 😂

That UHaul is going to cost $5K

If the new job doesn't allow health insurance for the first 60-90 days, which is standard - he will also be paying for his baby being born....

Guys, I went through literally the same thing last year. 3-contracts and all fell through! Baby was on the way, job was 30 miles away from home, quit a good job. Had to humble myself and focus on the family. Thank God my house didn’t sell.

Wish John was on this call ... This poor guy. Needs someone to say "it's all going to be ok" starting off.

Lol one "Shit" slipped through

What about trying to rent the house out?

Every time I read the video title it’s in Dave’s voice 🤣

2:53 First time in 7 years I’ve heard someone cuss on the show. Jade is that girl 🎉

It's pretty heartbreaking - but does it make sense for him to move in with some schmucks on cragislist for cheap to work the new job? Leave the Fam back in NC until they can sell the house. It's so hard on both of them but you might have to. Then at least he can work 24//7 while away from the family. Hard season.

How do people do this without consider all the factors!?!?!

he's so right about moving a pregnant wife. we moved when one town over when I was 8 months pregnant. it was the worst thing ever.

My husband and i literally asked my parents to help us move from Michigan back with them to Tennessee when he lost his job, we were renting and I didnt feel secure physically and finance in the area (this was 7 years ago). It took us about 6 months to get jobs and finding our home, but during those 6 months we were literally broke and saving everything doing chores for parents in place of rent. We paid them back for the Uhaul and gas literally if they ask for any help I will drop everything but the kids to help them, the agreement was get on our feet no making crappy budget/job decisions. This guy made avalanche of stupid decisions, my advice would be to tell his "job" that its not going to work and get 2-3 jobs to hammer payments and save hes gonna have 3 kids thats not cheap plus u dont want a newborn in a fixer upper.

"We bought too much house?" You guys didn't know it was "too much" before you bought it? Smh.

Over 30 good luck finding someone to help you move 😂

All the judgemental comments are really confusing to me. These callers know they've made financial mistakes, that's the primary reason they've engaged with Ramsey. It takes a lot to admit you've messed up, and real courage to do so publically. Everyone messes up, let's appreciate we can all learn from his errors and be hopeful we never have to call in ourselves.

The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.

Being 38 weeks pregnant, I cannot imagine doing this. What a ding dong! Where is his wife in this?

🚨Ramsey team needs to stop taking over each other 😂😂😂

I own a condo in northern CT, just me and my dog. Been here for over three years now. We would both love to be in a house but I will not get into a hole, just to do it.

Preach it! Let me tell you . . . I paused the video just so I can speak to an empty living room (LOL) and say "for all you people out there (friends/family) that think that I over think, over play, am taking my time to position myself financially to finally make a move near family (keeping the same remote job), moving debt free and paying cash for the move . . . then judge me . . . I don't care! I'm not making hasty or bad decisions just because someone else things I should go ahead and move now. OY! At some point people who have made bad decisions in the past (me included) need to stop, dig in, and take whatever time and effort it takes to stay ahead. The guy and his family need to move in with family for six uncomfortable months. Sorry for getting on my soap box! :)

I think it’s disingenuous for Dave to make him think he could get more money for the house six months from now. The housing market is headed DOWNWARD right now in most places.

All because he didn't like his job

These dudes starting a family, buying a house, have zero savings and just winging it, good luck with that.

I think we need to mandate a “think more than 1 step ahead” class as part of the high school curriculum. This should be basic planning, but every time I listen to these calls I just hear someone who can’t plan past the next 5 minutes of their life.

All these tic toc influencers were trying to normalize spending 50% of income on housing, and this dingus bought it.

I almost felt scared listening to him . He made bad decision into crisis !

My 8 year old in the back seat saying “she’s saying Nevada wrong” 😂😂😂

Hi, I want to start investing but I'm not sure where to begin. Any advice or contacts?

Why would you quit your job with a baby on the way? Hope he figured it out

A lot of people are moving to NC because it has a hot job market. Find a new one. You're already there.

47% of his $71,000 gross salary goes toward mortgage payments, and he'll soon be supporting five people? Err, okay.

why couldn't he just rent it out? Wouldn't that help him make the repayments on the loan

the logic ain't logicking

According to these 2, houses sell fast, and easy. And prices are always going up. Welcome to the real world Dave.

“Beyond 30 good luck to you” 😂

He sounds like a young man to me. Youth, therefore, is on your side. Please do not despair. Have the baby. Take care of the family. They come first. Find another job in the area if the current job is intolerable. Delay the Nevada move until things stabilize.

Dude has storm clouds 24/7, some people you can't help.

Put the house with a property management company and rent it out, move to Nevada and rent something cheap. That’s the only way that makes sense for me.

He could try to rent out the house .. no idea the specs but maybe multiple room mates until he can get some equity in the house.. What a mess.

That baby is being born in that U-Haul

He's lucky that this job offer in Nevada is still open. What kind of job says show up in July, you don't and still holds the job open for you until August. Why wouldn't they be hiring someone else, because someone at the company is doing the work.

Rent the house while you live in Nevada

Jade rocking the brades, they're on point!!!

Why not rent the house out?

I make double what he makes. My wife and I just bought a home. Our "top of the line" budget was less than what he bought. We ended up buying 50k under budget so what we bought was one HUNDRED THOUSAND less than what he bought. And we make double what he does.... On what planet... did he believe that house was a good call?

Thank God ive never been in a penny of debt. Whew.

Every time this guy said three, I heard two

If they are clever...It's called a bridge loan - but Dave doesn't like loans. We bought another house before our old house sold. Used a bridge loan to cover the difference of the two mortgages. when the old house sold (1O months later) we paid off the bridge loan from the equity in the old house.

If you have a bank approved no-resource short sale, you will be on the hook for income taxes on the difference and this can be a lot of money owed to the IRS.

I pray for Ted and his family. We’ve all made bad financial decisions. This too shall pass but he may have to work a few jobs. remember kids don’t care where they live, they just need a house of love and a safe place to fall❤

This caller is my friend. I think the highest of him. He’s a very good man. I hurt for him. Please be kind.

Why can't he just rent out the house until it's a better time to sell? Worst case he can't rent it out for as much as he's paying and he has to come up with the difference every month.

Absolutely nuts that he makes $70k and they haven’t figured out she needs a JOB and should have been working long before getting pregnant with this baby. My gracious. Sir, you don’t make $170k. You should have never qualified for the that amount of house. This is a ridiculous story.

This was a fantastic call from a learning perspective. Thanks Dave for all the wisdom and analysis.

He's in NC, which is a non-recourse state. If he goes into foreclosure, the lender cannot seek a deficiency judgement. Would destroy his credit, but he could walk away. Pretty shady, but he could even consider renting out the house while it's being foreclosed on to recoup the 20k....

"speed running to a difficult life" lol

I'm speechless. I have no speech.

He can walk away from the house if he wants. NC is a non-recourse mortgage state. Bank can’t touch you for any deficiency balance. Walk and wash your hands of it.

Wow. I have to say it. It is not coming from a place of judgment but more concern. As a man making $71,000 per year I don’t know why you would even put yourself in a position to get your wife prego when you bought a house that was too expensive

They do this stuff while they have KIDS too. Drives me mad. 🤪

He acts like a boomer who can buy a house, get car, bring bunch of kids and support it with single salary.

Owning a home is not a 30 second Tic Tac or Fakebook reel. It's a responsibility. And many times, expenses outweigh any perceived short term equity.