My Dad Co-Signed for My Mortgage

[@antoniofigueroa5084]

Cody you just have to listen. Stop cutting off people while they're talking.

[@drn13355]

Exactly. This is where they need Dave. Dave cuts them off by hitting the button when they keep interrupting.

[@laospa55ion]

lol THIS!

[@JustinCase780]

He's excited! It's his birthday present and his income grows exponentially every year. 😂

[@kurtjames9487]

That's my pet peeve with call in shows. People call in for advice from people smarter than them, and then they never shut up to hear the advice they apparently want.

[@bill7102]

God yes

[@jrxolos]

Cody, There's an old saying: “God gave us two ears and only one mouth, so we can listen twice as much as we speak.

[@chelsicheyenne]

Cody really thought he was having his main character moment, then John shut that ego right down 😂😂😂

[@isaacmorden7762]

A guy who brings up his own birthday and won’t stop interrupting… he’s got a lot more problems in his future then a co-signed mortgage

[@genxx2724]

Sounds like Sarasota Tim. He rented a post box before Christmas, gave the address in his videos several times in addition to putting it in the notes, and also made sure all his viewers knew his birthday was December 29.

[@loriej9297]

Right? Who over the age of 18 thinks their birthday is remarkable enough to mention to others?!

[@scottsanders2474]

If Cody is as annoying with his clients as he was on this call (interrupting while others are speaking), he won't be getting $40K salary increases for very long.

[@williamho7393]

I wish Dave was on the call, he probably would've called him "honey" many times for cutting him off

[@chrissmith-yg5xn]

lol

[@ldv02]

He would have said: you talked now is my turn lol

[@williamho7393]

Or press the mute button on him

[@drn13355]

"how much do you make a year". Takes 30 minutes to answer the question.

[@superior120v5]

lol he takes forever to answer every question.

[@snoer8]

Annoying 😝

[@dudeorduuude5211]

Haha, I think it is a young guy trying to sound smarter than he is. Oh well.

[@alonabeck713]

I really enjoy episodes with Rachel. She echos Dave to me but makes it her own and has good advice. Thanks for all you do!

[@jeremymercado2235]

Good lord. This man is in sales and listens 10% of the time. Good luck with 40k increase every year..

[@MaxGrey03]

Callers need to follow 2 rules: 1. when host asks you a question, just answer the question, if they need background they will probe further. 2. when host is answering your question, shut up and listen - you can ask for clarification after

[@jimmymcgill6778]

They answering the questions, at the same time they ask another.

[@jasonfmcc]

I love it how John can see right thru him

[@franziskani]

glad John saw through it and called him out on EGO. And unrealistic financial expectations.

[@philliprogers2383]

I'm a little confused. He says he makes $90k but his salary has been going up year by year by $40k. Also, I think it's doubtful he can pay the house off in 3 years. It doesn't sound like his wife works and after taxes, insurance, etc he's making around net $65k. The math doesn't add up when he has $185k mortgage.

[@jimmymcgill6778]

Who says his wife is not working?

[@Mr.Boring_Man]

Exactly!

[@alcabins2722]

​@jimmymcgill6778 he has a kid..... her working a side gig or even a good job and paying child care isn't helping the horrible math this guy seems to dream up, and than calls conservative.

[@jimmymcgill6778]

@@alcabins2722 Like people can't work when they have kids?

[@alonabeck713]

He said last two years he got a $40k raise. In insurance biz it is 100% commission that they get, no true salaries, so it makes sense that he started this gig around three years ago, did a little bit of business that year and is now seeing increases in pay as he is ramping up his clientele, but it is not forever going to increase at this rate and it can decrease too if he moves or loses clients for whatever reason. I do agree however that three to four years is unrealistic to get his mortgage paid off.

[@adoe2305]

We need Dave to keep these callers on track.

[@genglandoh]

This guy would drive me crazy he does not stop talking and let them answer his questions.

[@RCGuitar982]

"No no no I want to hear what you have to say " *cuts them both off every time they say something* This guy is unbearable. He'll do way better in life if he. Just. LISTENS

[@BrianW211]

He cut them off so often I kind of wonder if the phone connection had a delay and he didn't know when they started talking.

[@eurekahope5310]

I think John is right on ego. Be thankful, be responsible, and be humble. A paid off starter home is much better than a highly mortgages nice home you can't escape due to economic downturn or personal crisis. Best of luck, though. I think we had a bit of that ego when we bought a starter in our twenties. Economic downturn taught us humility and we now appreciate what we have more than we ever did.

[@cmdtrigun]

This guy's main problem is he doesn't know how to stop talking. Working with people like this has been the bane of my existence for trying to get meetings to end on time.

[@ReefGeek]

Holy cow I can't believe he's turning 29 years old with such a short attention span and cutting people off. He seems to be the type that likes to hear himself talk.

[@TheSchaef47]

Small wonder he's in insurance.

[@ReefGeek]

@@TheSchaef47 just because it's a career where you have to explain polices and beat around the bush and over explain doesn't mean you have to be like that in your personal life. I know many people who can turn on their skills during work and when they go home and around friends they can turn it off.

[@TheSchaef47]

@@ReefGeek he definitely could put a cap on it when he's off the clock, I agree. I'm just saying, career wise, he seems to be playing to his strengths.

[@guyhill3528]

Definitely.

[@Dad-in-WA]

the guy has a plan and doesn't want his Dad involved in paying for this mortgage at all. he has a good mindset. refinancing today would be bad idea with rates. follow baby steps, pay off mortgage. thanks for sharing.

[@SRTBOAT]

Good Morning Ramsey Team! Happy New Years Eve!

[@lifesabeach746]

I co-signed for my brother’s mortgage. After a few years when he got established we went to a solicitor and took my name off the mortgage for a fee of about $300 (paid by my brother). I hadn’t paid anything into the house and I had no interest in any part of his house. So maybe Cody’s dad would agree to removing his name this way, if that’s possible.

[@earthring]

You are taking about the title. You can’t take your name off a mortgage without a refinance. The original condition of the approval is based on The borrower or borrowers. You use the word solicitor So that tells me that maybe you were outside the US?

[@dudeorduuude5211]

My mother co-signed for me, and I was able to take her name off the mortgage by just showing I could pay it, and I didn't have to refinance. Then to the lawyer to take her name off the title. I am in Canada.

[@lifesabeach746]

@@earthring yes, in the UK. I was a co-signer on the mortgage (more as a ‘guarantor’ in case he couldn’t pay). Once my brother’s financial situation improved, I was able to be removed and I relinquished all interest in the house. This was about 10 years ago, so the rules around that may have changed nowadays and/or maybe that arrangement was never allowed in the US (?). It worked well for us, but I can see how it could get messy.

[@damondiehl5637]

@@dudeorduuude5211 How do you even buy a house in Canada when the rates reset every 5 years? That is a huge unknown risk that I would have a very hard time accepting. Do you have 30 year mortgages?

[@megalodon1726]

@@damondiehl5637 no, they don't have 30 year fixed mortgages in Canada. 30 year fixed-rate mortgages exist in the USA only because Freddie Mac and Fannie Mae have intervened in the market to buy such long-term mortgages from the banks. The banks themselves don't want to be locked in to a fixed interest rate for such a long time.

[@magnumend88]

Title should have been : " 1 Minute Call Takes 9 Minutes".

[@franziskani]

He is humble-bragging, and a terrible listener. - He apologized to his father for asking him to co-sign when there was no problem at all with that arrangement so far. It is almost insulting. He could tell his father how thankful he is that they got a loan at all (thanks to him co-signing) AND likely with good conditions. THAT would be the mature way to deal with it. - The father is financially successful has more life experience than the son, and son says that he has never missed a payment (and father did not make the downpayment) either. So he does not think his father knows how to make financial decisions when he has a son that does not abuse that kind of help ? If they get into financial troubles because he does not know how to hold a job, or if the father would be financially ruined if he had to step up (for instance if the son becomes unable to work due to an accident) - that would be another thing. Or if the father is a control freak and abuses the leverage. What is the problem here ?

[@linhaton4957]

Dad doesn’t mind, leave it the way it is for a few more years.

[@snoer8]

😂 this guy 🤦🏻‍♂️

[@TheNotoriousNemo]

That's what I would do until interest rates drop if ever...

[@moonj605]

off topic but rachel looks amazing in green 😭 it brings out her eyes so well too

[@montymython754]

What? Are you watching this on an imax screen? How can you even tell?

[@moneyallspent7117]

Never count in future money you THINK you might get.

[@kendrapratt2098]

Cody-‘It was toxic living with her parents’ (Which I will grant likely was not a good situation) Also Cody-‘I have a mortgage with my dad’

[@franziskani]

Looks like he has a GOOD relationship with his father. It is interesting that he does not mention the mother.

[@kendrapratt2098]

@@franziskani I concur with you on both points

[@RepentImmediately]

​@@franziskanihis parents are probably divorced.

[@sanjaypatelmd4669]

Never ever co-sign mortgage for any one.

[@JustinCase780]

Wrong. His Dad is a saint and they are fine. Yea, he should have rented a trailer instead..😂

[@aolvaar8792]

Your husband has a mortgage on the house, You are on the title as a co-owner. There is a benefit to co-signing. He dies and now you are scrambling to get a mortgage.

[@reese85]

I’ll co-sign for my kids anytime

[@miketheyunggod2534]

He didn't. Smfh.

[@JustinCase780]

@@reese85 Same here. People are so strange about it when there are plenty of instances that it makes perfect sense.

[@RJRussoVids]

This guy is so full of it! 😂

[@JustinCase780]

Dr. John needed to bring him down to reality. 😂

[@DustinRGreen-ww4og]

Best response from John Deloney ever ! But dude seemed to not hear him…

[@OldManJeff]

“We make 90k” “We will pay off our 185k mortgage in 3 years.”

[@yarrdayarrdayarrda]

This guy is painful in that he already knows everything and talks over everyone.

[@linhaton4957]

John’s right on this one.

[@GratefulDeb270]

John & Rachel - well said!

[@GrizzTrades]

I would hate to know Cody in real life. Has to be the main guy to speak and he knows everything is what it sounds like.

[@BrianW211]

"We're minimal people. We don't need a lot to be happy." Cody says 1 minute after saying they bought a starter home and want more space.

[@analyticalchick3064]

I noticed that

[@schondra1993]

Idk if he was nervous but dude, just listen and be quiet.

[@garyclark6427]

In many jobs there is a diminishing return. It’s great that income may increase, but you need to take care of your customers , because there’s always going to be new competition who will take them away if you don’t watch out.

[@HelloWorld-hb7yt]

Cody not a good listener

[@JustinCase780]

But he can sell insurance! 😂

[@wahinepaddler4]

They probably sign up just to shut him up.. but a sale is a sale ​@@JustinCase780

[@danieljohnson4418]

Is it "wrong" to keep him on the loan? No, of course not.

[@random-nz7dy]

Cody needed to be hung up on or told to shut up and listen. Dude kept interrupting. Thank you John for calling him on the ego. I was super annoyed by this call So he got himself in trouble with the house by assuming things to be certain financially in the future that are far from guarantees.. so... He wants to keep doing the same thing? Lol.

[@bearcat19872013]

CODY, LEARN WHEN TO BE QUIET!

[@shamijele3169]

Why would you refinance now?? just pay it off fast if you can and don’t do it again!

[@JustinCase780]

Listen up parents! This is what happens if you name your son Cody.

[@lauraellsworth1813]

😅 Boom!

[@brendamichel7486]

Gosh, this guy needs to shut up and listen!! It's driving me crazy that he doesn't listen.

[@TimothyAaronPotts]

Shut up and listen. Lol. What a painful call for me to listen too.

[@sammorreale3372]

Rachel!!!! Use the mute button!

[@shawnmacwhinnie4481]

Also refi costs, $3grand

[@lindawilson4625]

Leave it as is. You'll be buying a new house in the near future on your own. To refi or whatever would be stupid in your case.

[@harrycole5244]

Cody is mayor of Yapsylvania

[@Mitzi73]

That caller is full of anxiety.

[@isabellaross1472]

You called for advice let THEM talk!!😂

[@michaelvan6675]

Income been going up $40k a year for 3 years….i make $90k this year. This math doesn’t add up.

[@timmymiron2727]

Omg, this kid loves to talk. He would talk non-stop for the entire show if he could

[@crow-vz5lx]

Yo. He didn't want advice, he just wanted to hear himself talk out loud

[@matticus6339]

This caller was super annoying, I never understand people that call into this show(or other shows) to get there opinion but then really don't care about there opinion because they constantly interrupt and just want to hear themselves talk. This guy is talking/acting like he has went big and is really something, he better intentionally eat some humble pie and calm down or life will do it for him.

[@digitalgypsy21]

John was spot on on this one!!

[@christinateresabrown]

“We want a bigger house” = his wife wants a bigger house.

[@RepentImmediately]

Right....cuz a man who just got called out on-air or having ego issues would never want a bigger house

[@davinasquirrel7672]

Nope = Cody wants a bigger house to reflect the size of his ego

[@rayparks6854]

Maybe I missed the clarification, but if his dad is just a co-signer, than I don't really see any issue with leaving everything as is. I really wonder if his dad is actually a co-owner and if so, than that is a completely different situation in my eyes. I only bring this up as a possibility because of the way the caller beat around the bush with almost every questioned that was asked of him and the way he seems to be living in a fantasy world where he thinks that he is so great at his job and with money, everything in life is so easy and his plans are going to work out flawlessly. I hope everything works out for them and I very well could be way off here, but I am not certain that the whole story was presented here.

[@San3Persp3k]

Cody got a lot of growing up to do

[@BachBeethovenBerg]

John is so right about getting into a new industry and raises plateauing. I got into the software industry and got huge raises the first three years or so, but the next three years its been between 4-5%

[@TeresaS-q7x]

why does it always take so long for a person to get their question out, it's not this caller, it's every single caller they get

[@AimeePoppinBabies]

My husband had his father on the mortgage for his first place but the second we got married I got myself put on instead. Very important!

[@djpuplex]

I bet it is. Gotta secure his assets.

[@JustinCase780]

Smart "future planning"...you got him! 😂

[@AimeePoppinBabies]

@@JustinCase780 considering I pay the mortgage too YES.

[@aolvaar8792]

I added my Wife to the Title, Community Property with rights of survivorship. Being on the MORTGAGE is unimportant. Being on the TITLE is. You can be on the mortgage and NOT be an owner. It is called co-signing.

[@rabidgoon]

ah, the first step toward ruining a man's life. have you already found a good divorce lawyer?

[@Times397]

Dude, just ride this out it’s not a big deal whatsoever. I can guarantee you there’s a tremendous amount of homeowners with co-signers (car notes as well). If your dad was a douche bag, I would get it…but he sounds very chill…I wouldn’t worry about this and would view it as a good thing.

[@adamseidel9780]

Why is the question about refinancing, I thought he wants to move? Why not just stack up cash for his new house, why the silly rush to pay it off so quickly? What a scatterbrain.

[@thomasfranco5997]

Dude, you need to think about it more. If you buy another house and if interest is high now, you can lose a lot of money. In Vegas people who bought a house last year are trying to sell the same house this year. They are starting to drop the price because no one is buying right now because of the interest rate. Everybody was thinking of buying a new house last year but now there are many New Homes that are sitting empty because everyone dropped their contract. That is everywhere because the interest rate is too high.

[@harrykashouli9774]

Cody is such a rude caller. Constantly interrupting everyone.

[@rajbeekie7124]

Cody is all about drama. He loves hearing himself babble.

[@Andiev12325]

What’s ironic is that he wants to get his dad off the mortgage because of listening to this show. Nuance is always needed!

[@Malgnofnik]

the conservative manner would be to do your income expecting to NOT get any increase at all lol. Even a half increase is unsustainable because nobody can have unlimited increases.

[@RepentImmediately]

I was an assistant to two insurance agency owners. If you sell insurance and your income isn't going up every year, you've either cut your hours or somehow became unable to sell.

[@mpb5180]

This kid sounds like he and his wife are running and he doesn’t seem to account for the cost of a child growing up. Also $20k bonus increase every year doesn’t seem conservative. This seems a bit insane, he needs to analyze quarterly.

[@onicamary123]

Omg Cody let other people talk you don’t know everything lol.

[@acemissler6683]

Do people just call in to hear themselves on the channel? Or to get a pat on the back, because they sure don't listen

[@franziskani]

The relationship is good, the dad trusted his son, that he would not have to pay for the house, he does not mention any tensions and they do not see each other much (in person) anyway. Dad's (the parents) good financial history just helped them to get the loan and to get it at a good interest rates (some of my family members have fixed interest loans for their mortgages, YAY !). WHERE IS THE PROBLEM ?? Dad does not hold it over his head, we can hope he is doing O.K. establishing his biz, and if all goes wrong, dad could afford to help them out. Eventually he will be able to get his dad's name off the transaction. And IF they would run into troubles outside of their control I am sure his father (and his mother ? !) would be glad to help them out financially. I mean what would be the point of passing on the money after the parents have died - when giving a part of your inheritance earlier helps the kids to not lose the home (and equity). The house is a first-buy so nothing fancy, it looks like they are handling their finances well.

[@michellewinkler3985]

Whats the problem keep the house and enjoy the low rate until your ready to sell!

[@jimmymcgill6778]

So what if his father cosign? It makes no sense to refinance it.

[@mikedoyle5901]

Cody needs to learn to let people talk...or the relationship will be strained.

[@nyht727]

He can do a QUIT CLAIM DEED! Notify your lender. No big deal!!!

[@brentayers3132]

Don’t refi. Just pay off or save for the next house and sell. It’s foolish to refi in this scenario.

[@cl5193]

Something is going on with his dad he's not telling them.

[@joimumu]

Agree because so far there is no problem here but he doesn’t want to say anything why ha has problems

[@curiouscat3384]

1st world problem. Here's a guy profiting handsomely off of Medicare while us slobs at the bottom just had our SSA go up a measly 3.2% while our Part-B Medicare premiums went up 9%. Why should his income increase 40% a year just for shuffling people's money around? There should be no middle man for Medicare. But I'm glad he cares about eliminating his dad's risk on the mortgage - sounds like a nice guy.

[@analyticalchick3064]

What is the timestamp where he said he worked with Medicare? I heard insurance. It sounds like he's doing sales.

[@curiouscat3384]

@@analyticalchick3064 around 4 minutes as he describes his bonus. Insurance companies are allowed to contract with Medicare to sell Advantage plans and other supplemental plans. The insurance company pays for Part-B and tacks on whatever premium they can get as a package deal. A lot of seniors are seduced by ads for "free part-b" and then they get talked into supplements that don't really serve them and cost more.

[@Fishouta]

He works for an insurance company, not for Medicare. He probably sells Medicare advantage plans, which explains his higher income around now, during open enrollment. In any event, NO, he is not being paid with government tax dollars.

[@RepentImmediately]

When people in insurance say they do Medicare they mean they are selling supplemental plans and some of these plans actually put money in client's pocket and provide them with bonus health services. But uh, this whole channel is about first-world problems. The whole concept of the platform that you're watching his video on is first-world. Maybe instead of bitching and moaning about a video you opted to watch go find a way to make more money since you're so bitter about your financial situation.

[@Neddie2k]

If unfortunately his dad passes, it is no longer a financial decision or a relationship decision. It becomes a totally different problem.

[@arh1234]

Dad may not be on the title - just the loan.

[@MetikalMan]

They make more than enough. How did they not understand the idea of purchasing ONE used car for cash to rent out on Turo. A five year old Honda Insight or Fit or maybe a CRV or RAV4 Hybrid for around $20k. Then all you are covering is the insurance and maintenance. How does this happen to people who follow Ramsey for years?!

[@listerinr]

Is this the Cody show??

[@danielleb1223]

2024 let’s just answer the question

[@JasonBlaha66]

Just from the first minute I cant continue with this call....this guy... if you read this you should let others speak

[@righand]

Don’t they have a mute button that they can throttle on and off to shut this guy up?

[@cherylbroadenax1006]

Ask if the lender will re cast the loan removing the dad. Keep the same rate.

[@Fishouta]

Unfortunately, it doesn't work that way. The caller has to originate a new loan to remove his father. And it will be based on the current lending rates.

[@user-mv9tt4st9k]

People should not rely on doubling incomes and bonuses; and such money should not be included as income when calculating if something may be afforded. My two cents... Results may vary. 😕

[@jasonleatherwood2172]

So glad im past worrying about interest rates

[@laneyluneva]

Cody, you called them for advice, shut up and listen

[@franziskani]

How can this guy be in sales ! when he is such a bad listener and does not come to the point. Also: the dysfunction of the U.S. healthcare system where a dude gets 90k (and hopes to make much much more in the future) out of a service (Medicare which is supposed to be the public non-profit serivce) that is not needed in any other first world country. Because their systems are straightforwar, simple, and admin is much more cost efficte !! so people sign up (or their employers). And if people retire they also do not need any counseling (and therefore people that make a living of helping them) the process is very, very simple.

[@Fishouta]

He doesn't work for medicare. He works for an insurance company selling Medicare advantage plans.

[@rodneyevans8362]

He's young, life experiences will adjust his world. Cody if you knew all the answers, why did you call the show? If you paid attention they just gave up on trying to help you.

[@RepentImmediately]

I'm pretty surprised by how many people in the comments don't know that selling insurance is is typically a commission-based job. In that field, if you're good at sales it's pretty easy to increase your annual income by thousands of dollars every year. Why else would people go into such a boring field? It offers unlimited earning potential and the potential to make money off of other people's sales if you go on to open your own agency which many successful agents do. I was an assistant in that field for a while and there were people on my bosses' downlines that had dozens of people on their downlines. My bosses themselves simply loved to sell and were very good at it. They were insufferable, though, which is why I was only with them for a few months 😂

[@davidmilhouscarter8198]

Pay it off even if you sell. You’ll get your money back when you do.

[@jgjg3848]

If the dad isn't requesting to get his name off the house, then leave things as they are. Stop trying to take on debt unnecessarily. You have the rest of your life to get a larger home.

[@DigDeeperNetwork]

You gonna keep getting that raise when you steamroll people on the phone like this?

[@jerede7731]

Assuming he continues to be in position to pay the house payments, I don’t see the huge issue here. Sounds like he is going to get a reality check sometime soon regarding the huge raises. Pay generally doesn’t increase like that for long.

[@matthewtaylor7935]

Do it now because to get him off the loan when its paid off. He could request half

[@edwinguzman6245]

If you do it smart okay to cosign if your kid is buying another house. But Dad of Mom does a legal document that he will not ask for a partial unless there is a divorce.

[@themacandcheese2240]

His wife is following a man who does not listen. Pray for her.