I work in mortgages and the company he said isn’t a lender it is a servicing company. This sounds like she did a modification to not get foreclosed on and is now missing more payments.
These are two adult boys still living at home. Sounds like they need to start paying their fair share. I would say old Todd is about two years past due. Pay up snowflakes !!!
Yeah I like George and Christina but this whole story was just nonsense and any advice is just lost on thin air because you’re not dealing with the actual problem. Dave would have sussed out the actual problem
Todd is 20 years not 18 girl. Your judgment against mom is TOTALLY unfounded. She taking financial advantage of two boys not paying for nothing. CRAY CRAY. HELP DAVE these two people don't need to be giving advice to NOBODY.
EXACTLY...Mom is lying & using her son's....wait, mom makes $60k a year, plus her son's make $30k each....so $120k coming into the home, and she so-called missed a payment🤔.....somethings up.. A house does not go into foreclosure with one missed payment ..the son's need to call the lender ASAP.
These boys are now adults, they need to pay rent to help there mother out. These snowflakes thinks they can put their money into savings while mother pays all the bills.That is Wrong !!!
This call doesn’t make sense. The lender he mentioned is a servicing company per a google search, not a lender. It sounds like his mom hasn’t been making payments got a modification on the loan and she’s not paying that either so they are foreclosing.
The mother would be fine IF the boys would pay their share of the Bill's or move out let mom sell the house and walk away with about 100k. Todd is trying to figure out how to take control without paying for nothing.
@@robertbirch4163the caller has only been an adult for 2 years. She has been messing up for much longer than that. The kids should keep their money and run.
She got a home equity loan to make house payments with. Todd and his brother need to take the money they borrowed, get an apartment together, pay the rest back to the bank and leave mom with her own financial problems. If she loses the house- oh well!
It’s sad but I’m so lost bc most ppl received stimulus payment during the pandemic. Lastly, ppl were able to apply for mortgage relief during the pandemic.
That's the biggest myth out there you should never use a home equity loan as an emergency fund you can not borrow you way out of debt and it is dumb. No wonder they foreclosed on her.
A lender can't foreclose this quickly. It's at least a 90 day process in the most expedited manner. There are a number of missing pieces to this story. Plus OH has a redemption period post foreclosure for 90 days.
I've had friends like this, they choose to stay clueless and play dumb because it's easier than being responsible. They make over $120k a year combined, and the normal house payments add up to $12k/year. These people just don't think about or pay attention to their money.
I agree with that in a lot of situations, but in this case, I think he's also been raised to cater to his mom's wishes and not ask questions (that would be disrespectful). I can hear in his voice how timid and uncertain he is. It hadn't even occurred to him to make calls himself, he was taking his mom's word. That's a couple decades of manipulation and guilt-tripping he's going up against. It's going to be hard for him to overcome 😪
First off your math is off.The house note is 1500 a month, this is 18000 a year. Also combining their three earnings is something that don't happen. Mom has to pay all the Bill's while Bevis and Butthead don't pay their share. The say dad quit paying child support after these boys turned 18. You see how mom might be having financial problems.
@@amazonorchid1321 Don't mistake timid for ignorance. This 20 year old boy don't know how to tie his shoes yet. They have never worried about moms financial situation. They put their money in savings and never offered to pay so much as a light bill.
@@jimmymcgill6778 that's entirely possible. I just wish they would have asked, "if your mother could already afford the mortgage payment to begin with, why did she take out the sketchy loan?"
You heard nothing from his mother. Now Todd, mister I want to cash flow my mother's house has been talking ALL the smak.Mister I want to live rent free and never make a house note.I get my moms equity with the low interest rate.
Todd did say fifteen hundred like he would even know. Alot of people have been loosing their jobs, health and many other reasons foreclosures are getting bad.Just a thought ladies, many those adult boys should help their mother out with their bills.
Say dad stopped paying child support after those boys turned 18. Mom pays 18000 a year on mortgage. Then all the other things that go along with life. That is just getting by, I don't see excess cash floating around here. Maby IF the boys would pay their share mom wouldn't be in this pickle.
This is so sad. These poor kids have no idea what a mess they’re entangled in. I cannot imagine any parent who would do this to their child. This is a very good way to ensure your children never have anything.
That's what I was thinking. He really needs to put some distance between his mom/bro and him. They need to sell the house, pay off the loans and stay separate going forward.
I was wondering has she shouldered all expenses. Do they pay rent, utilities. Internet, phones or food? She may have something we don't know about like medical debt, where is dad????
I don't think he's hiding anything, it sounds like he's young and dumb. And his mom manipulated him into cosigning a stupid 30k loan to pay her mortgage. Him and his brother probably could have just taken over the mortgage payments themselves, but weren't old enough to understand the situation.
"She was forced because she qualified for it." Ahh, just because they say you can get a loan for X amount doesn't mean you shop for a house at that level. Duh. It's called house poor.
Go Kristina! Good job. I don’t like all of the comments about Dave being needed on this call. They gave good advice in the end. Dave would’ve given similar advice, just faster. But it’s OK for a new people to take a minute and figure out which direction they want to go with the call. They got it in the end and pointed out problems and next steps. I say, good job newbies!
The reason Dave was needed on this call is because they are so unversed in real estate that they’re not immediately calling it out that it isn’t legal or possible to take that home after one missed payment. They have to be 120 days delinquent to even begin judicial foreclosure which would take another couple months before the home would actually be taken from them. And through that entire time they have a right to get current. So where Dave would be needed is to immediately point out that the one month payment story isn’t true and so mom is being dishonest about something here. Either she’s multiple payments behind and they’re close to the judicial foreclosure process OR she’s just flat out lying to them. And that’s huge to truly advising this call that yes it’s bad for mom to have them involved in this at all to begin with but even bigger is that she is lying about something major regarding losing the home that they don’t grasp because they’re ignorant (the sons) of the laws surrounding it. They need Dave to call that out and break that reality to them to properly proceed forward knowing that it isn’t just mom involving them but also lying to them as well. They made a good effort handling this but the best advice is competent advice and competent advice means understanding the full context to guide that. Simply saying she shouldn’t get by Scott free isn’t the same thing as she’s lying to you about the foreclosure because what she’s telling you is happening isn’t legal or possible so she’s involving you when she shouldn’t be and you can’t actually trust what she’s telling you and that means there’s a much bigger problem than simply a boundary issue. Involving them is a boundary thing but lying to them, putting them in the financial risk and pickle they’re in, and preying on their ignorance is an entirely higher level in this thing above what he’s saying happened.
He’s a young kid he doesn’t know about life and financial dealings he has no idea what it is a co-sign and he sounds he’s easily intimidated and manipulating her boys to this mess I’m sore for those kids
When dad left my mom had my brother pay her mortgage. He never married nor had children. She had my siblings and family members also pay her rent and pocketed it 30 years later my brother resents her for it. Parents shouldn't have they're kids paying for they're bills
When in doubt blame the pandemic. Three adults making terrible decisions taking no responsibility. We were forced? At gunpoint? Sounds like mom is ruining her son's financial future like she probably did the husband.
I went through the same thing more than a decade ago. Luckily, I had some emergency fund that we used to offset the debt, to keep the house longer. Good luck brother. I hope things work out well.
“We were forced to get a loan because we qualified for it” ….. wut?!?! What the french toast does that mean?! I’m “prequalified” for hundreds of thousands of dollars in loans per year and never take a single one.
I couldn’t get to the end of this call, it was very cumbersome, the hosts weren’t able to get a clear picture of the situation. I’m at 8:00 and give up. We neeeeed Dave.
The lender for the $35k house loan won't talk to the son because he isn't on the loan, so calling them is a waste of time unless mom gets on the phone first and gives them permission to talk to the son. Even then, they may not talk to him. The best he can hope for is to have his mom call and then put the call on speaker so he can hear what's said. I am willing to bet she won't do it.
@@moodiseverything9252 He was very vague and talking back and forth between the $35k loan on the house and the $8k loan he took out to help pay the $35k loan. I don't see any lender in their right mind letting a 20-yr-old kid cosign on a $35k loan. In order to cosign, you have to be eligible to get the loan yourself before you can cosign for someone else. Of course, this whole thing was shady. We needed Dave at the desk to get to the bottom of the BS.
Poor kid just doesn't seem to understand what's going on. He doesn't understand what they are asking or how to answer them. He needs to man up and follow through on the details. He needs to hold his mom accountable.
I would talk to a lawyer. A loan company won't foreclose just one late payment. Defer the house payments to the loan? What? Sounds like they are into some shady business.
The mom was called by a collection rep, who threatened the mom with foreclosure. There are zero loans that are secure d by real estate that must be paid off in one week or else face foreclosure. The mom doesn’t understand her situation and did not explain it properly to the son.
Mom's using her barely adult sons as a piggy bank, twice now. They cosigned once and now are taking full personal loans. They haven't legally started foreclosure, it sounds, so they have time before anything goes to court. Right now sounds like threats, not empty threats but not at that stage yet.
This whole call is nonsense. Lenders do not foreclose for one late payment. Under federal law, they have to be 120 days delinquent for them to even make the initial filing. Someone really should’ve pointed it out to him.
Dave and Rachel should’ve taken this call. Personally i think the young crew on this team think everything is so simple and easy. Where Dave has been through hard times.
This whole call will super weird. Mom using one loan to pay another yet has a good income. Then stops paying. Then instead of selling the home decides to transfer the debt to the kids to pay. Now they are going to be stuck paying for a home they don’t even own. Also not explained is why is the heloc company so quick to foreclose. None of this seems normal. Weird situation. Moral of the story is pay your house first before anything else. If you can’t afford the house anymore then call up a realtor and sell it before you risk losing it. You can’t afford to lose that kind of equity.
Yeah, chalk this one up to an expensive lesson learned. It's painful when you realize your parent is not a good person. She used you and didn't think twice about it. Could be substance issues here, or maybe she has mental issues. When the dust settles and you put all this behind you, you and your brother need to move on - the sooner the better as things are not going to change with her.
They need to talk to an attorney. If the 2nd mortgage company forecloses, they would need to pay off the 1st mortgage to get title. A second mortgage is in inferior position to the 1st.
She is totally in lala land. I thought she was not that gullible. 20 year old still living at home with mom. Not offering to pay his share. Putting all his money in the bank while mom tries to figure out how to pay all the bills.Probably got her child support cut off.
This poor young man…sounds like he’s been duped and guilted by his Mom into this situation, with minimal working knowledge. Somebody had better be looking for an apartment and then working 16 hours a day to get these loans paid off.
"We were forced to take out a loan because we qualified for it..." Nobody forces anybody to do anything...it sounds like a loan not a mortgage...get a lawyer...
It's very admirable that he opened up about feeling nervous as a first timer on the show with millions of people listening. Not everybody has the courage to do that.
Weird situation…in any event, since they both put themselves in this situation to bail out Mom, they each need to get more income than 33K/year…food delivery service is good for supplemental income..or a PT job at like UPS/FedEx etc at night or whatever….and Mom needs to get another job too…
Either this caller is seriously confused, or this is a made up story. First of all, a lender does not decide to “foreclose” on Friday. Foreclosure is a complex process. Under federal law, lenders cannot even begin the process until the loan is 120 days past due. The story about foreclosing due to one late payment is pure nonsense. If the mother is not being straight with him, he needs to cancel these personal loans. Telling him to call the lender that holds the moms loan is pure stupidity because they cannot even discuss it with him if his name is not on the loan.
lol, I can't wrap my head around this call. I'm 9 minutes into this video and I still don't fully understand what is going on.. 35k loan due in full or house is foreclosed, two sons borrow a total of 19k.. so, is 19k all that is owed to save the house? 19k left owed on the 35k that was originally borrowed? Because my math knowledge tells me that 19k does not equal 35k.
Mom is lying. - this is not how loans work. Bet she’s has never made a payment. Shame shame shame on mom. Poor kid. I’d just move out and go into an apartment on my own or with my bro.
Mom is definitely lying. Miss one payment then the house gets foreclosed? BS
Exactly! There is a lot more to the story than meets the eye (ear).
Some shady companies will do that.
I work in mortgages and the company he said isn’t a lender it is a servicing company. This sounds like she did a modification to not get foreclosed on and is now missing more payments.
@@jimmymcgill6778I have loan care and they been pretty fair with me
Loancare has been great with me as well
Parents, if you're using your children as a co-signer on anything you've done everything in your financial life wrong.
Can you say this louder to my dad?
These are two adult boys still living at home. Sounds like they need to start paying their fair share. I would say old Todd is about two years past due. Pay up snowflakes !!!
@Stacy R. Me too. No. No. No.
@john Smith absolutely. I have one of them
Children can have boundaries. No means no. Break the curse. 😢
They needed Dave to cut through the vague statements and find out what’s actually going on.
My thought exactly
Yeah. Other than Jade, all the other hosts just pussyfoot around
He might not actually know, sounds like mom is keeping stuff from him or not sharing the whole story
@@droid2D2C3P0 he knows all he needs to know. He and his brother have to make the grown up decision to quit bailing mommy out.
Yeah I like George and Christina but this whole story was just nonsense and any advice is just lost on thin air because you’re not dealing with the actual problem. Dave would have sussed out the actual problem
Dave is much needed here!
It's pretty easy to understand. You want Dave to answer your question, CALL ON A DAY HE'S WORKING!
So is a father.
@@amireallythatgrumpy6508 we want, Todd didnt
Todd is 20 years not 18 girl. Your judgment against mom is TOTALLY unfounded. She taking financial advantage of two boys not paying for nothing. CRAY CRAY. HELP DAVE these two people don't need to be giving advice to NOBODY.
@@robertbirch4163 -- You missed the point of what NextGenEvs was saying.
She makes 5k/month… 4K after taxes, and can’t pay a $1500 mortgage? Yeah sounds like she has a spending problem.
It won’t be 4k after taxes
There’s more to this story
@@reese85still…
@@reese85
Pretty damn close. Especially if she was still claiming her son's
Mom is shady AF. There is a lot more to this story.
She probably keeping up a deadbeat B/F
Definitely
His mom is up to no good!!
How tf you make 60k a year and not being able to afford 1500$ for mortgage?
EXACTLY...Mom is lying & using her son's....wait, mom makes $60k a year, plus her son's make $30k each....so $120k coming into the home, and she so-called missed a payment🤔.....somethings up..
A house does not go into foreclosure with one missed payment ..the son's need to call the lender ASAP.
As a mom I’m sorry parents should not put this burden on the kids, wrong
Seems like a single mother mine field to me.
These boys are now adults, they need to pay rent to help there mother out. These snowflakes thinks they can put their money into savings while mother pays all the bills.That is Wrong !!!
Mom was trying to keep a roof over all of their heads. She needed the help!!
It wasn't the best call, but she probably had no other financial choices.
she putting her children through this shame on her
@@robertbirch4163 Absolutely they should be paying rent, but they should not be taking out debt to finance mom’s stupidity
I truly feel for him. I ended up homeless due my mom’s poor decisions. I have never been the same ever since.
Get better sir I’m loosing my moms house too forget about it. I’m done if I can’t refinance in November it just wasn’t meant to be.
Ooof😮
This call doesn’t make sense. The lender he mentioned is a servicing company per a google search, not a lender. It sounds like his mom hasn’t been making payments got a modification on the loan and she’s not paying that either so they are foreclosing.
He sounds so unsure. Their mother needs to be held accountable for her actions and the sons need to leave
The mother would be fine IF the boys would pay their share of the Bill's or move out let mom sell the house and walk away with about 100k. Todd is trying to figure out how to take control without paying for nothing.
@robertbirch4163 the sons need to leave and the mother needs someone to keep her accountable of her previous life choices
@@robertbirch4163the caller has only been an adult for 2 years. She has been messing up for much longer than that. The kids should keep their money and run.
This episode desperately needed Dave on the program
She got a home equity loan to make house payments with. Todd and his brother need to take the money they borrowed, get an apartment together, pay the rest back to the bank and leave mom with her own financial problems. If she loses the house- oh well!
YES! Absolutely right!
It’s sad but I’m so lost bc most ppl received stimulus payment during the pandemic. Lastly, ppl were able to apply for mortgage relief during the pandemic.
If you have over 5k in savings are over 18 and live in one of the most depressing cities I’ve personally ever been to(Toledo), LEAVE! PERIOD!
That's the biggest myth out there you should never use a home equity loan as an emergency fund you can not borrow you way out of debt and it is dumb. No wonder they foreclosed on her.
@@geomodelrailroader yep all you are doing is delaying the inevitable
A lender can't foreclose this quickly. It's at least a 90 day process in the most expedited manner. There are a number of missing pieces to this story. Plus OH has a redemption period post foreclosure for 90 days.
Makes me wonder if the mom is using this story to guilt trip her sons into bailing out her stupid financial choices.
They can start proceedings as soon as they miss a payment, but it is going to be months before they can actually claim the house.
I've had friends like this, they choose to stay clueless and play dumb because it's easier than being responsible. They make over $120k a year combined, and the normal house payments add up to $12k/year. These people just don't think about or pay attention to their money.
I agree with that in a lot of situations, but in this case, I think he's also been raised to cater to his mom's wishes and not ask questions (that would be disrespectful). I can hear in his voice how timid and uncertain he is. It hadn't even occurred to him to make calls himself, he was taking his mom's word. That's a couple decades of manipulation and guilt-tripping he's going up against. It's going to be hard for him to overcome 😪
@@amazonorchid1321 Good point, thats a very good observation
First off your math is off.The house note is 1500 a month, this is 18000 a year. Also combining their three earnings is something that don't happen. Mom has to pay all the Bill's while Bevis and Butthead don't pay their share. The say dad quit paying child support after these boys turned 18. You see how mom might be having financial problems.
@@amazonorchid1321 Don't mistake timid for ignorance. This 20 year old boy don't know how to tie his shoes yet. They have never worried about moms financial situation. They put their money in savings and never offered to pay so much as a light bill.
Definitely sounds like his mother is telling a lot of lies.
Or maybe the company is lying to her.
@@jimmymcgill6778 that's entirely possible. I just wish they would have asked, "if your mother could already afford the mortgage payment to begin with, why did she take out the sketchy loan?"
@@shanep2760 he said she wasn't able to afford the payments
Loan care isn’t a bad company from my experience with them
You heard nothing from his mother. Now Todd, mister I want to cash flow my mother's house has been talking ALL the smak.Mister I want to live rent free and never make a house note.I get my moms equity with the low interest rate.
I thought my financial situation is bad until I listen to some of these phone calls. Glad I caught myself before I got into too much debt
Mom is keeping some important info from the kids. The boys don't know/understand half the situation.. Hopefully mom isn't bold face lying to them.
I got that feeling too ...she's hiding something.
Yes, these sons are what 18 and 20 or something. They don't know what they're doing.
A copy of all paperwork would solve keeping secrets from sons.
Kristina, you have no idea how many parents put their kids through these toxic situations.
Bill's. If he would pay his share of the Bill's or get out and get your own place
💯she is so out of touch to think that some parents don't do this .
Kristina said it right. The mom is so wrong. Definitely the most animated we've seen her.
Bingo. Mom is dragging her kids through the mud just like she did to her husband.
Omg! Poor kids! 😥
I could never do that to my kids.
Yep. I’m so glad someone said it.
Sounds like a household in need of a strong male role model!
Yeah I'm glad she stepped in to make sure she wasn't let off the hook for her misbehavior as well as dragging her kids into the mud with her.
The mom makes $60 K and can’t afford a thousand dollars a month for a mortgage note? Something sounds fishy and she’s doing other stuff with her money
I was about to say: I make that pay 1400 in rent.
Todd did say fifteen hundred like he would even know. Alot of people have been loosing their jobs, health and many other reasons foreclosures are getting bad.Just a thought ladies, many those adult boys should help their mother out with their bills.
Say dad stopped paying child support after those boys turned 18. Mom pays 18000 a year on mortgage. Then all the other things that go along with life. That is just getting by, I don't see excess cash floating around here. Maby IF the boys would pay their share mom wouldn't be in this pickle.
Gambler
Don’t trust anybody including your parents when it comes to money!!’
This is so sad. These poor kids have no idea what a mess they’re entangled in. I cannot imagine any parent who would do this to their child. This is a very good way to ensure your children never have anything.
They are adults not kids, twenty is not a child
@@karenmcdermott2161 I am sure their mother has been living like this most of their life ..
He is not saying everything about their situation. He is hiding a lot of information from the viewers.
That's what I was thinking. He really needs to put some distance between his mom/bro and him. They need to sell the house, pay off the loans and stay separate going forward.
agreed
I was wondering has she shouldered all expenses. Do they pay rent, utilities. Internet, phones or food? She may have something we don't know about like medical debt, where is dad????
I don't think he's hiding anything, it sounds like he's young and dumb. And his mom manipulated him into cosigning a stupid 30k loan to pay her mortgage.
Him and his brother probably could have just taken over the mortgage payments themselves, but weren't old enough to understand the situation.
This young man and his brother are great guys but they need to find out the truth.
Putting a financial burden like this on your kids is so unhealthy and just plain wrong. These parents are toxic and taking advantage of their kids.
"She was forced because she qualified for it." Ahh, just because they say you can get a loan for X amount doesn't mean you shop for a house at that level. Duh. It's called house poor.
Oh yes when we'd look for homes we would be qualified for waaaay more than what we could realistically afford
I would love a follow up to this call.
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We needed Dave and the mom on this one.
Go Kristina! Good job. I don’t like all of the comments about Dave being needed on this call. They gave good advice in the end. Dave would’ve given similar advice, just faster. But it’s OK for a new people to take a minute and figure out which direction they want to go with the call. They got it in the end and pointed out problems and next steps. I say, good job newbies!
The reason Dave was needed on this call is because they are so unversed in real estate that they’re not immediately calling it out that it isn’t legal or possible to take that home after one missed payment. They have to be 120 days delinquent to even begin judicial foreclosure which would take another couple months before the home would actually be taken from them. And through that entire time they have a right to get current. So where Dave would be needed is to immediately point out that the one month payment story isn’t true and so mom is being dishonest about something here. Either she’s multiple payments behind and they’re close to the judicial foreclosure process OR she’s just flat out lying to them. And that’s huge to truly advising this call that yes it’s bad for mom to have them involved in this at all to begin with but even bigger is that she is lying about something major regarding losing the home that they don’t grasp because they’re ignorant (the sons) of the laws surrounding it. They need Dave to call that out and break that reality to them to properly proceed forward knowing that it isn’t just mom involving them but also lying to them as well. They made a good effort handling this but the best advice is competent advice and competent advice means understanding the full context to guide that. Simply saying she shouldn’t get by Scott free isn’t the same thing as she’s lying to you about the foreclosure because what she’s telling you is happening isn’t legal or possible so she’s involving you when she shouldn’t be and you can’t actually trust what she’s telling you and that means there’s a much bigger problem than simply a boundary issue. Involving them is a boundary thing but lying to them, putting them in the financial risk and pickle they’re in, and preying on their ignorance is an entirely higher level in this thing above what he’s saying happened.
I love the new fire we heard in Kristina
I doubt this is the first payment she has missed or they would not ask for full loan amount.
Someone needs to pull this young man and brother to the side and guide them!
I agree their dad should tell them at 18 I no longer pay child support so you two will need to pay your share of the bills.
Yea, like the baby daddy
Confusing call
2010: Every other call is a foreclosure call
2023: What's a foreclosure?
lol it's almost like we're in a housing bubble mid-pop!
@@rnt45t1 I'm not saying I'm looking forward to it BUUUUUUT lol
Mmmm think back to 2007-2012 😂
@@al1395-y3das a 24 year old who has been stacking cash since the pandemic. I’m freaking ready for it.
LETS POP THIS BABY
No one can force you to take out a loan. I'm tired of blaming "the pandemic". Sounds like the mom's not telling the truth.
Nah its tru i lost my job because of the spanish flu still havent recovered
@@And1one757 How long ago was that?
@@jimroscovius 100yrs ago
@@And1one757 😂
He’s a young kid he doesn’t know about life and financial dealings he has no idea what it is a co-sign and he sounds he’s easily intimidated and manipulating her boys to this mess I’m sore for those kids
When dad left my mom had my brother pay her mortgage. He never married nor had children.
She had my siblings and family members also pay her rent and pocketed it
30 years later my brother resents her for it.
Parents shouldn't have they're kids paying for they're bills
When in doubt blame the pandemic. Three adults making terrible decisions taking no responsibility. We were forced? At gunpoint? Sounds like mom is ruining her son's financial future like she probably did the husband.
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That’s exactly what was going thru my head. That is so sad.
The Devouring Mother. Look up the archetype.
It’s not the sons fault.they are only 18 and 20
If not they will be homeless
Great to hear this kid had that much saved! He will do well long term.
No with a parent like his... draining them
I went through the same thing more than a decade ago. Luckily, I had some emergency fund that we used to offset the debt, to keep the house longer. Good luck brother. I hope things work out well.
“We were forced to get a loan because we qualified for it” ….. wut?!?! What the french toast does that mean?!
I’m “prequalified” for hundreds of thousands of dollars in loans per year and never take a single one.
Agree, that's the first thing I thought.
You are leaving 100000 on the table every year? If I could borrow 100000 a year I would .
"French toast" Hello Kevin!
Well one quick internet search for the company mentioned on the call and it looks like a refi company with pretty awful reviews.
On a call as serious as this Dave needed to be here. These two are fsr too under qualified and experienced to handle this problem
I couldn’t get to the end of this call, it was very cumbersome, the hosts weren’t able to get a clear picture of the situation. I’m at 8:00 and give up. We neeeeed Dave.
It sounds like some "free" money was offered and mom said great deal I'll take it and go shopping.
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Yes that’s exactly what I was thinking
I drill my elderly mom "there is no free ps5, iphone, govt benefits..." This is on her kids for not protecting her.
Bingo. Exactly
Assumptions assumptions. I can assume a thousand negative things about you and you can about me. You don't know her story.
The lender for the $35k house loan won't talk to the son because he isn't on the loan, so calling them is a waste of time unless mom gets on the phone first and gives them permission to talk to the son. Even then, they may not talk to him. The best he can hope for is to have his mom call and then put the call on speaker so he can hear what's said. I am willing to bet she won't do it.
he said he co sign on the loan
..so he can call...
@@moodiseverything9252 He was very vague and talking back and forth between the $35k loan on the house and the $8k loan he took out to help pay the $35k loan. I don't see any lender in their right mind letting a 20-yr-old kid cosign on a $35k loan. In order to cosign, you have to be eligible to get the loan yourself before you can cosign for someone else. Of course, this whole thing was shady. We needed Dave at the desk to get to the bottom of the BS.
A lawyer should have been called immediately. Mom is stupid.
They dont have any money call what lawyer
Parents never seem to shock me anymore!
👏🏾 Kristina spoke to him with the passion of a TRUE mother !!! He needed to hear everything she said and I pray him and his brother take the advice !
This mother did a real number on her two sons, my god this is awful.
Losing my house by Friday .... calls Thursday afternoon ...
At least this is a call from earlier in the week.
I just looked the company up... they should have also. They are as shady and horrific as they come.
The advice to sell the house is probably the best.
Poor kid just doesn't seem to understand what's going on.
He doesn't understand what they are asking or how to answer them.
He needs to man up and follow through on the details. He needs to hold his mom accountable.
Three working adults. And no one was paying. There's more to this story.
Mooching. That's what. Mom tried to be a smart butt with the "covid relief"..
Between the three of them, they make 130k/year😮😮
Boy. Go and get all the info.
Don’t give your money to your mom
To pay off the loan.
He will. Its flushing it down the toilet though. 😉
Some parents do this and it’s sad. I know and see it all the time!
I would talk to a lawyer.
A loan company won't foreclose just one late payment. Defer the house payments to the loan? What?
Sounds like they are into some shady business.
Nah! Something is not being told cuz I personally have loan care
The mom was called by a collection rep, who threatened the mom with foreclosure. There are zero loans that are secure d by real estate that must be paid off in one week or else face foreclosure. The mom doesn’t understand her situation and did not explain it properly to the son.
Mom's using her barely adult sons as a piggy bank, twice now. They cosigned once and now are taking full personal loans. They haven't legally started foreclosure, it sounds, so they have time before anything goes to court. Right now sounds like threats, not empty threats but not at that stage yet.
he is 20 18 is a adult
Wait a minute, you're the son and you have to take out along for your mother? No, that isn't right she needs to worry about her her own house.
Mother is a lost case. Move out. Never cosign again. Let her learn her lesson and fail. Family is making $90k and cant afford $1500 mortgage.
Agree! If they don't nip this in the bud now, I flat@ss guarantee that mom will be expecting them to foot the bill for her in retirement.
There’s a class action suit against loan care with consumer financial protection bureau
This is why nursing homes will never go out of business.
This whole call is nonsense. Lenders do not foreclose for one late payment. Under federal law, they have to be 120 days delinquent for them to even make the initial filing. Someone really should’ve pointed it out to him.
George and Christina don’t have the necessary knowledge and experience to handle this. We need Dave.
@@genxx2724 so true. They gave him horrible advice. calling the mortgage company is an exercise in futility if his name is not on the loan
@@Sulla2300 Dave would know all the ins and outs of foreclosure.
Dave and Rachel should’ve taken this call. Personally i think the young crew on this team think everything is so simple and easy. Where Dave has been through hard times.
If you want Dave and Rachel to call, CALL ON A DAY THEY ARE HOSTING THE SHOW! It's not hard.
Please give him a free financial counseling packet. This case need to be follow up with Dave.
Finally, someone at Ramsey has the guts to call out a woman, the mom in this case, on her bs. Good job Christina!
Yea Jim, a mother should keep paying all her ADULT kids Bill's until she dies. Just let those boys spend their money however they please.
This is a crazy call
This whole call will super weird.
Mom using one loan to pay another yet has a good income. Then stops paying. Then instead of selling the home decides to transfer the debt to the kids to pay. Now they are going to be stuck paying for a home they don’t even own. Also not explained is why is the heloc company so quick to foreclose. None of this seems normal. Weird situation.
Moral of the story is pay your house first before anything else. If you can’t afford the house anymore then call up a realtor and sell it before you risk losing it. You can’t afford to lose that kind of equity.
Yeah, chalk this one up to an expensive lesson learned. It's painful when you realize your parent is not a good person. She used you and didn't think twice about it. Could be substance issues here, or maybe she has mental issues. When the dust settles and you put all this behind you, you and your brother need to move on - the sooner the better as things are not going to change with her.
I googled Loancare--it's reviews put it as 1.2 stars and the online reviews are awful.
Dave would of dunked on this call. Kristina did great ! I got angry myself at the mom
Maby you should let those boys move in with you, rent free of course. You take the next 20 years.
@@robertbirch4163 why
They need to talk to an attorney. If the 2nd mortgage company forecloses, they would need to pay off the 1st mortgage to get title. A second mortgage is in inferior position to the 1st.
Something is missing. This just doesn't add up. We need to talk to mom.
Oh man. I know a few people who deferred mortgage payments bc they could and this is def the reason you shouldn't do it just bc. Bad idea
This is the most animated I've ever seen Kristina
Yes, she's well upset !!!!!!!!
She is totally in lala land. I thought she was not that gullible. 20 year old still living at home with mom. Not offering to pay his share. Putting all his money in the bank while mom tries to figure out how to pay all the bills.Probably got her child support cut off.
Good thing I found Dave two years ago and iam doing good now. THAKS Dave👍👍
Sounds like predatory lending. They need to get a lawyer ASAP
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Three grown people cannot combine enough income to make $1500 payments each month?
Go to work, and pay your bills
This poor young man…sounds like he’s been duped and guilted by his Mom into this situation, with minimal working knowledge. Somebody had better be looking for an apartment and then working 16 hours a day to get these loans paid off.
Sounds like a horrific call and then at 7:00 he is like "Yeah, we have the money" lol
Right?!?!?!
They only have the money because their mom scared them into getting a loan at the threat of them losing their home.
@@misspapo3444 x'D
The kids have money because they probably banking dollars. Not paying room and board. There is alot more to this story.
20 is not a kid, grown man
What they do with the money? Mom sells stocks and pays you back, move away from mom and separate money from her immediately, no business together
"We were forced to take out a loan because we qualified for it..." Nobody forces anybody to do anything...it sounds like a loan not a mortgage...get a lawyer...
Sorry mom, pack your things and move out. This is your problem, not ours. Manage your money properly and you should be ok. If not, not my problem 😊
It's very admirable that he opened up about feeling nervous as a first timer on the show with millions of people listening. Not everybody has the courage to do that.
Quit bailing mommy out. She makes 60k and could afford the payment if she wanted to. She’s a bum.
Weird situation…in any event, since they both put themselves in this situation to bail out Mom, they each need to get more income than 33K/year…food delivery service is good for supplemental income..or a PT job at like UPS/FedEx etc at night or whatever….and Mom needs to get another job too…
🖕🖕ᴛʜᴀɴᴋs ғᴏʀ ʙᴇɪɴɢ ᴍʏ sᴜʙsᴄʀɪʙᴇʀ ᴛᴇʟʟ ᴍᴀx ᴛʜᴏᴍᴀs ᴍʏ ᴇxᴘᴇʀᴛ ʙʀᴏᴋᴇʀ ɪ ʀᴇᴄᴏᴍᴍᴇɴᴅ ʏᴏᴜ ᴛᴏ ʜɪᴍ ғᴏʀ ᴀ ʙᴜsɪɴᴇss ɪɴᴠᴇsᴛᴍᴇɴᴛ ᴏᴘᴘᴏʀᴛᴜɴɪᴛʏ ɪɴ ᴛʜɪs 2023 ᴛʜᴀɴᴋs ᴠᴇʀʏ ᴍᴜᴄʜ ❤️
First time Kristina on fire 🔥
This mom is, I have no words
Where's Dave when you need him?
I'm sure he had more important things to tend to 🤷♂️
Mom is preying on their ignorance. They need to fix this mess then move out and sever ALL financial ties.
Nothing on this call makes sense.
This poor kid! 😢 why would his mom put him in such a bad situation what the actual F.
This is so sad i would live in my car before i would ever guilt my kids to get a loan for me.this mother is manipulative to the Max...
To many “Uhhhh and uhhhh” bro needs to figure out the facts
Either this caller is seriously confused, or this is a made up story. First of all, a lender does not decide to “foreclose” on Friday. Foreclosure is a complex process. Under federal law, lenders cannot even begin the process until the loan is 120 days past due. The story about foreclosing due to one late payment is pure nonsense.
If the mother is not being straight with him, he needs to cancel these personal loans. Telling him to call the lender that holds the moms loan is pure stupidity because they cannot even discuss it with him if his name is not on the loan.
SO WHAT?
I'VE BEEN PAYING RENT SINCE 1968.
lol, I can't wrap my head around this call. I'm 9 minutes into this video and I still don't fully understand what is going on.. 35k loan due in full or house is foreclosed, two sons borrow a total of 19k.. so, is 19k all that is owed to save the house? 19k left owed on the 35k that was originally borrowed? Because my math knowledge tells me that 19k does not equal 35k.
How did she miss the payment?!?! Between the three of them they make $120k and a $1,500 monthly payment was too much. I got questions…
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Mom is lying. - this is not how loans work. Bet she’s has never made a payment. Shame shame shame on mom. Poor kid. I’d just move out and go into an apartment on my own or with my bro.