I Owe $202,000 in Student Loans, Time to Buy a House?

I Owe $202,000 in Student Loans, Time to Buy a House?
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[@DisabilityExams]

Priority is getting a job, not getting a house.

[@1AMYPTURNER]

Just lost his job, married with 3 kids and looking to buy a house? Is this guy for real????

[@jonathansanchez8499]

Oh god. I was hoping you trolling. But jesus tf boy lost his mind lol

[@andygarcia3585]

And a $600/mo lease on a car... in Brooklyn! Smh

[@danielrn133]

I think he is lying about something. How does he have a 134K a year job, but hasn't paid a dime of his student loans because they are not "due" yet? Even if he just graduated it is time to start paying them. How long did he have this "job". This call makes no sense.

[@bobbyb7672]

Not to mention the $200k in student loan debt.

[@kolmarleon2365]

Plus over 200k on student loans.

[@random-nz7dy]

My favorite moments on the show are when people say that they've been listening and the spouse loves the show and they've learned a lot and then proceeded to ask a ridiculous question

[@Lauu_kzallaz]

Don’t buy a home just because interest rates are low. Buy a home when you can actually afford it!

[@blackworldtraveler3711]

So many people have it all backwards.

[@webfreakz]

He should focus on the price of the house, not the interest rate. And put a strong down-payment in.

[@franniefargo9454]

Don’t buy. Rent from Dave.

[@pkal244]

People that are salivating over the interest rates need to realize that home prices have also risen to meet that higher demand and lower supply, at least in the nyc suburbs. You're not getting a huge deal here, especially if you're already in debt.

[@aolvaar8792]

In 2011, houses on my street sold for $40K. I scraped up money, and bought I could not afford it. ONCE in a lifetime opportunity Now I can afford it.

[@ThomasBomb45]

1. Debt 2. LOST HIS JOB 3. Three young children Time to buy a house???

[@ryansauchuk7290]

Perfectly balanced, as all things should be

[@xXButterlyXx]

Naaah

[@ew2645]

Absolutely! Make sure the house has a pool.

[@vkchaitanya2003]

What about ocean view?

[@thefitinvestor8803]

What’s a nice house without a 2020 F-150 sitting in the drive way!!!

[@cheesebear3353]

Horses for the kids

[@BagsNBaguettes_327]

🤣🤣🤣🤣

[@DaisyBerk2]

No, buy without a pool, and then finance one

[@cvill0045]

So grateful for Dave Ramsey! I just paid off my credit card debt, got rid of my fleece and got a honda, and now I'm tackling student loan debt, and I will be debt free in 3 years. This wake up call was what I needed!!! Every dollar is a game changer!!!! I wish anyone who reads this luck. It is possible. You can do it and never give up!

[@NeoAndersonReloaded]

good job! I love hondas!

[@ivybanks7936]

Yayyy!!! Being debt free is the best feeling!

[@cvill0045]

@@ivybanks7936 right? I will be joining the completely debt free club soon! Just a huge weight off my shoulders with the cards and car though!

[@cvill0045]

@@NeoAndersonReloaded Yesss.

[@QueenPenKen]

What an amazing start, three years will fly by best wishes on your debt free journey.

[@Telecasterfan]

I'd say buy two houses, just to be safe.

[@RJ-cv2uw]

Why not lease the new 2021 BMW M5 while at it

[@Telecasterfan]

@@RJ-cv2uw well I mean you don't want to miss out on the 0% interest rates so why lease? Just buy it new.

[@courttower583]

😂😂😂

[@josephhuman7390]

Baha baha baha. The sad part is at one time I used to think this way. That GOD not anymore!buy buy payments payments .... never again......

[@ivybanks7936]

Dahahaha 😆

[@amde8554]

“You need to read it twice” was a polite way of saying you don’t know what you’re doing

[@expectthabest951]

🤔Some People are “WISE” and Some People are “OTHER>WISE”! 🤷‍♂️

[@ivybanks7936]

🤣🤣🤣

[@CaseyBurnsInvesting]

If I accumulate 202k of debt I better come out with a house.

[@AP.Production]

Or at the least a 300k salary

[@ethangamer3173]

AMEN BROTHA

[@MrOfficer235]

This is one of the most absurd calls I’ve heard in probably a few years. Unreal.

[@mxerb5912]

Wish Dave fielded it

[@shaundrafairfield5701]

Dave would’ve let him have it!

[@BitterComments]

ahdfakjh ajfdandkj Still not as bad as that chiropractor tho. Lol.

[@MrOfficer235]

Look up the Unv of Michigan Water Polo grad for $175k in student debt. That one is a personal classic of mine.

[@mxerb5912]

ahdfakjh ajfdandkj I don’t give up

[@jeraldinea5024]

When the man mentioned the amount of debt he has, Chris almost jumped out of his seat. 😂😂

[@cheeveka3]

The disappointment on their faces when he said that his car is leased. 😂😂

[@edkennedy7952]

This guy can't afford a tent.

[@koreanplayboy]

😂 😂

[@BYOB561]

🤣🤣😂

[@alexandria2706]

😭😭😭😭

[@xXButterlyXx]

😂😂

[@COINsimp2024]

🤣

[@brentkillian4613]

Caller: I've learned so much from your show Also Caller: Leasing car, looking to buy home, 200k in student loans

[@HaroRider03088]

Should get a house, a big one. Maybe a new BMW or Mercedes for the driveway.

[@didibebedidi]

HaroRider03088 you're serious...only one car 😂? Nooo... both cars. Poor guy, he's in denial.

[@anthonyquinn5927]

Do not forget about the vacation place and the timeshare and a leased car!!!

[@miketheyunggod2534]

Yep, life is too short.

[@soundc10wn]

“This is not your sentence, this is your situation” that hit hard

[@BitterComments]

I saw the title and immediately started laughing 😂

[@gmar2662]

I saw the title and all of my problems vanish

[@MKNYC_]

OH BOY HOGAN WOKE UP 0:31 as a fellow Brooklynite I have no idea how this dude is surviving, when I heard the $600 lease payment I was like WHAT

[@thedude5040]

You could buy a new small car in 3 years at $600/mo

[@Oshinubi]

Jjpa

[@billybat5790]

Ppl are so obsessed with low interest rates when the price of the house can go upside down. Gives me 08 vibes

[@amde8554]

People like this are how 08 happened

[@nicole4779]

Yes! I was thinking the same thing!!

[@RiggyRonnie]

I hope so ~ person with a fair amount of cash on hand and stocks living in an RV looking for land

[@bobbyhill601]

You clearly don’t understand how the 08 house crisis happened. Loans are not getting reckless approved like in 08. Housing is just going to get more and more expensive.

[@amde8554]

bobbyhill601 not sure who you’re responding to here but I very much understand how 08 happened. The original poster said the caller gave them “08 vibes”, not saying that is what is happening now. Anytime interest rates are low housing prices will go up, in addition to all the companies buying up real estate as “investments” and renting them out, which is taking away an entry level home owner market for many. Rates are going to stay low for awhile so this will be a protracted period.

[@DeadsupraEE3]

This dude took a deep breath when he said he's married but didn't hesitate to say he has debt lol

[@brokgrl85]

His wife def made him call to see the light 'cuz she's tired of trying insert common sense in him!

[@BagsNBaguettes_327]

Leon, are you smoking something? No! You have 1 income, drowning in debt, and a bunch of kids..🤦‍♀️ the wife has 4 kids she is taking care of. Leon is another child.

[@brianafranklin8164]

I lost my job and my wife is the only one working. Should I buy a house? What?????

[@GarrettJohnson1986]

Listening to calls like this makes me feel like a genius.

[@juju543soccer]

Truuuuu

[@miketheyunggod2534]

And that's hard for an idiot.

[@PatGigtainment]

Never understood how someone could have almost a quarter million in debt and they wanna add close to half a million to it.

[@sporff]

No other debt. Just a $615/mo car payment.

[@sailorsallyrockinrarity2130]

$615 for a LEASE???? He's so dang casual about that payment! If this is normal I don't want anything to do with it.

[@gabriellejones6451]

God help America !

[@jmc8076]

@1:11 “should I try to get a home now?” I almost spit out my drink!

[@leathelandlady]

How are you paying $600 for a car lease and $0 towards student loans?

[@93mlo]

There's a provisional law that stops student loans until next year

[@leathelandlady]

@@93mlo Gotcha, but they're $202k. He needs to pay some of them anyway!

[@Dark_Souls_3]

@@93mlo many are foolishly not paying loans because of the no interest.... I say, pay even more now and get ahead!!

[@Koolej98]

Flossin & Bossin

[@cato451]

Get a couple of new cars too

[@RiggyRonnie]

2020 f250 mall crawler edition, throw in a new yard ornament RV while you’re at it.

[@ethanking4954]

And a boat

[@cato451]

Ethan king incredible planning guys. Who needs Hogan anyway...we’ve got it dialed in!

[@Guffb]

Doesn’t the hierarchy of needs include a hot tub?

[@nme.00104]

and a patio deck, jungle gym set for the kid's too.

[@jfloresdrums]

In a couple of years this guy will be seaking divorce advise.

[@rayisnumbaone]

Advice*

[@RiggyRonnie]

Once the money issues are shown, they have been hidden

[@joemilleriv]

Why?

[@yodaflyz]

@@joemilleriv Statistically speaking, $ problems is the #1 reason people get divorced.

[@herbiehusker1889]

*seeking

[@Julian-zc9vm]

What sane person who is unemployed with a $600 car lease and $200k in student loans, and a wife that makes only $87k thinks the solution to all their problems is to buy a house. This is why MBAs are so useless. They teach people nothing.

[@Shane-fh4uu]

I wouldn't say it teaches nothing. At minimum it requires an above average competency to get the degree and builds a specific set of skills but in my experience also creates a super inflated ego. This guy lacks a lot of common sense. I work with many mbas who graduated from well respected institutions and they all said they got plenty of offers at 120k/yr minimum. They're getting 140k or so at my company. I make half that but my side hustle makes my total a lot more :)

[@lennaedaley8676]

MBA usually return its investment compared to other degrees. This guy is just a idiot.

[@RJ-cv2uw]

Sleeping well tonight, my situation ain't to bad after all

[@RJ-cv2uw]

@Atty. Johnny Sins Personal Finance whatever you say Dr. Phil

[@esonon5210]

This is 2008 all over again. I'm glad he actually called for advice instead of being like the millions of idiots out there buying houses they couldn't afford.

[@williamnettleton3413]

Emotion destroys logic. If our mind wants it, and is emotionally attached. Doesn't matter how logical an argument is you won't listen, unless you throw away emotion and let go of your pride and what you want. Change your mindset and emotion and things start happening.

[@CFproductionsTV]

Just lost my job, 200k in debt, should I buy a house¿ Oh yeah, bud.. go ahead. Sounds like a plan. ughhhh people are so stupid, and must love embarrassing themselves on national radio by calling into Dave Ramsey’s show and asking idiotic questions like this..

[@bitkamp9215]

Don’t forget $615 a month car lease

[@edkennedy7952]

All of his callers are stupid lol.

[@elyasrasti8943]

Are you dumb bro. He asked a question that some people had and now you get the benefit of learning from on yt

[@jimroscovius]

@@elyasrasti8943 What's the question? You don't buy a house when you owe over $200,000. A fourth grader knows that!!

[@anthonyquinn5927]

This should be a comedy sketch!

[@jordanaubrey-realestateinv334]

Trying to buy and house with no money. Sounds impossible

[@0neofthem]

He’ll go into foreclosure and student loan default if he goes through with this. What a disaster.

[@mikesmith-wk7vy]

Hey cris Hogan . I have no job 3 children and 200k in debt should I buy a house for the interest rate . You got to be kidding what do you think they will say

[@christi3411]

Chris- "Sending you the book, READ IT TWICE". Love it"!

[@paulenepierre8435]

3 children under the age of 5 with over 200K in debt. At some point you gotta pause on having children because in the end they will suffer the most.

[@scoobie8amg]

I like when people are asked if they have debt and they say "no except for...."

[@jet4415]

Stop having babies, use birth control !!! I'm sure he blames the wife on having all these kids. My brother-in-law blamed my sister after having 3 kids.

[@IreneZGoodman]

They are married and if they didn't have student debt they could afford the kids. The kids are not the problem. The mindset of wanting to get into more debt is the problem.

[@ChrisMFlorida]

lol that's great

[@VerdyBerdy]

Beyond a house look at his area. New york, a condo in the city is absurdly expensive. There are a lot of factors that will keep him from buying one without moving far far away.

[@Jay-om8gr]

These are the best two to replace Dave when he retires

[@1SavageQueen89]

I agree! They work well together and they both ask very great questions and you can tell they truly listen to the callers too. They are my favorite ☺️

[@venicekyoto]

No they can’t do math. They said he will paid off in 3 or 4 years it will take him 8 to 11 years to pay of $202,000 paying between $1500 and $2100 a month. He needs to pay close to $6000 to be out of debt in 3 years with the interest.

[@frankiesmom8478]

I vote for Anthony

[@jarrettpierce5626]

Do it dude!!!! Get a tiger too!

[@Alexis_Marcelo]

I already know this video is going to be good. 😂

[@iPLAYtheSTATION]

Sure! As a matter of fact, go get a tuba degree while you're at it! And don't forget about a pair of Escalades!

[@betruetoyourself7162]

He needs a boat and a timeshare

[@mxerb5912]

Hasn’t even made his first loan payment and a 600 dollar lease and wants to buy a house. 🤦‍♂️

[@bobbyb7672]

They was making $87k and $134k ($221k) before he lost his job. Why are they broke and in debt?

[@scotttracy9333]

Because they live in NY, that's why

[@whysoblutube]

Because they were living it up - spending more than they make.

[@sandwichxiii]

"Should I buy a house?" "Sell the car and move out of your city"

[@beeezeee1783]

I love Chris’s animated facial expressions.

[@realazduffman]

He will buy another copy of the book so he can read it more than once

[@bhsjuice2013]

These two should really get the reins whenever Dave decides to hang it up.

[@akclayberg]

Is this for real? 200k debt and no job...how do you get a house?

[@ruthhnry]

Will the bank even let him buy a house with that amount of student loan? 3 banks gave me a problem with giving me a mortgage because of my student loans was $47,000 at the time. The 4th bank gave it to me and that was 6 years ago. Now my student loans is around $24,000.

[@DeionSardines]

Good job

[@MrOfficer235]

So in 6 years you’ve only paid $23k.....

[@1AMYPTURNER]

@@MrOfficer235 Thats pretty good. She's doing what she can.

[@Sergey6116]

Good job, kill that loan.

[@DeionSardines]

ahdfakjh ajfdandkj I’m sorry 😆

[@philmarsh3859]

The low interest rates -... and the high prices. I'd rather have it the other way around. Maybe wait?

[@Londonbridge978]

and here i am crying after paying off 30k of student loans lol

[@MrBrewman95]

Well he did buy a house, for Sallie Mae.

[@glenn8861]

“I don’t have any other debt except my 200K student loans. OH and I also have a $600 car payment, even though I live in Brooklyn” 😂😂😂😂

[@SlapM3SillyTTV]

i have got a feeling this guy isnt going to listen

[@edkennedy7952]

Facts

[@Raegoul]

It's hilarious how he just glosses over the car lease.

[@sinamen516]

Chris's reaction at 0:32 😭😭😭 these 2 gave great advice!

[@TheLuxeTraveler702]

He has good intentions. Wanting to provide and buy a house for his family. If they buckle down , they can get out of this mess in 2-3 years then focus on the house. Houses aren't going anywhere.

[@Ryan-ut3cg]

Best part of not having a car is no car insurance. Probably going to add $750/month extra to throw at the debt

[@juliochavez1308]

Thumbnail looks like “HOLUP”

[@monopolyman6985]

😂😂😂frrr "is this guy fr?"

[@TheFabled1]

YES BUY BUY BUY.....what a great idea!!!! buy as expensive of a house as you can barely make payments or take advantage of gov printing press giveaways and then sell the house for 3-10 times what you paid for it.

[@benfrankog6111]

Cardboard box and blanket, blanket and cardboard box.

[@PapOwnYou]

that's the new rice and beans treatment for homeowners X)?

[@Vydio]

Maybe a tent?

[@edkennedy7952]

@@Vydio , thats what i thought lol

[@Vydio]

Time to buy a house!??! Perhaps a job should come first.

[@fitzroy5862]

I just love looking at Chris’s face when callers ask their inevitably clueless questions - gold!

[@MaMa-jh6bb]

"Read it, twice" 🤣

[@FilipeNaruto]

Chris and Ken are great together! Both are so encouraging

[@Mohitmohandas]

Student loans, car payment, lost job, 3 kids and wants to buy a house! Good thing, Dave wasn't there today😂

[@TimeisUp22]

😆 Chris reactions are gold! They are better than when Ramsey eyes use to bug out in his old videos from 4-5 years ago.

[@jvolstad]

People are leaving the NYC area and he wants to buy a house?

[@aolvaar8792]

The price is dropping, Boomers a 100 miles away are aging out. And millennials like telecommuting Urban blight

[@santacruzfitnessofficial]

Proof that his MBA did absolutely nothing for home. $202k in student loans, $615 a month for a LEASE AND kids??

[@IvyPlans]

How could they make so much money and not have any money saved?

[@esonon5210]

They live in NY and have 3 kids

[@jeffsmith3622]

I read the title, knew what was going to be said, then watched the video

[@firepatriot42]

Amen. Worked part time through college, had a partial scholarship, had to leave due to finances 1 1/2 later, what little bills I had I payed off immediately once my tax return came through. Zero debt. Didn't go back due to medical issues, yet my parents taught me don't buy stuff unless you have the $!

[@nicolegraham1492]

I saw the title and clicked fast 💨.

[@epiphoney2]

Lived in Brooklyn for a decade and having a car is a nice convenience, but even if you're out in the sticks in Canarsie, Bensonhurst, or Red Hook you can still get by without one. It's just a longer walk to the bus/subway stop. Drop that lease!

[@hello9945]

Red Hook is very tough without a car

[@euenfheiejrj]

I’m sure it’s nice if you can afford it and want it. I also lived in Brooklyn (Carroll gardens) and the idea of having a car in Brooklyn seems crazy to me especially with his debt and unemployment status. He definitely doesn’t need a car and should get rid of it ASAP.

[@djpuplex]

10 to 1 the wife wants a house and is busting his ⚾⚾.

[@newtonraymond77]

He said he's been listening, correction he's been hearing and not listening. Mid 2019 I started doing the debt snowball without ever hearing of Dave Ramsey, went on KZbin and after the first video I knew I was doing something right for a change. That decision has me debt free throughout the pandemic and I finally got my wife on board we're working on her debts now.

[@ianmowbray3284]

MBA not worth 200 k !!!!!!!! He will be paying for decades. He is not paying Anything on it now.and that car payment is crazy.

[@Woopigmavs]

Great point to consider: are you curious about getting out of debt, or are you committed to getting out of debt? I know an insane amount of people (myself at times) who are merely curious about getting out of debt. Thanks Chris!

[@arifjonatan9300]

He spent $202K for taking business degree. Yet, he asked this question? I don't know which business school he attended to, but that one needs a red flag in their review. 😓

[@skillzx5842]

This guy gained more knowledge about money and finance from this call than he did from his MBA education lol

[@amera09ful]

To my understanding student loan debt is not counted like other debt when purchasing a home. They count a percentage toward your DTI ratio not the whole amount when purchasing FHA, that's why he asked. They are still going to pay rent to stay somewhere he's not going to live in a box and guess what the rent will probably be as much as or more than a mortgage. And how is he telling him wait 3 years? That is only going to pay off about 50000 of the 200000 if he pays 1500/month.

[@lights80088]

I can't believe the pain of paying $1500 a month on a school loan............and that's just one of the many expenses.

[@flisfinance5680]

Wow this is a lot of debt!!! They need to get to work and pound this debt out

[@hitMonle1]

I like the combo of Chris and ken, smart and motivating! Thanks y’all!

[@rhondapayne2195]

CH wanted to throw his flag at 3:43 but threw his glasses LOL!! But this is not the time for him to attempt to buy a house with all of that debt!!

[@Ja50nkAt]

This is what's wrong with American culture, 200k debt, 3 kids, lost job, leased car, "I get a house now right?" credit is a cancer.

[@colewildenhus7207]

I wonder where Leon is at today ? A lease$600/m , 200k in student loan debt and wants to buy a house. Crazy

[@drewwilson8364]

202k in student debt Paying 1500 a month “In 4 years you can have a remarkable turnaround and start saving for a down payment” if I did my math correctly 1500 a month for 4 years is only 72,000 would be payed off not including the interest that would be accruing over the 4 years. With that plan your looking at 11 plus years. If he gets his old job back he probs could do it in less than 2 years.

[@crystalhull1677]

Making that much and no savings??

[@Tyrisanders]

Chris was about to lose it after hearing about that car lease payment 😂😂😂

[@theblackknight9783]

He doesnt work, paying $600 on a car lease, and ready to buy a house. He's trying to put up a front, like he has it going on, doesn't.

[@howlbeast]

5:50 onwards 👌🏼👌🏼👌🏼 Ken is so right 6:10 “Gotta get out the city indeed... think of every area of your life where you sacrifice”

[@coaler82]

Kudos to Chris & Ken for wise and well-delivered advice. This guy needed to hear this and I hope he and his wife take it to heart. Very true about the kids not caring about homes and cars and such. My folks were pretty poor when I was a kid, but paid for everything in cash except our house. In 1970 they bought a summer cabin on the river for $7k. It was on leased land and purchased on a note from my uncle. They paid it off in 4 years and my Dad spent 17 years adding interior walls, ceilings, flooring, insulation, indoor plumbing, and an addition. They slept on used sofas for a couple years and our 'bedrooms' were created by hanging blankets in those early years. I am in my 50s and have finally got my act together financially, but to this day I consider those tough years some of the best times of my life.