‘Just Walk Away,’ Ramsey Urges Woman With $150K Income And $500K Net Worth After Father Files $20K Lien
A father’s foreclosure turned a modest rent into a family impasse.
I’m calling from Tucson, Arizona and Tiffany said The house called “The Ramsey Show” that she and her husband bought with their family in 2014 is now facing a dispute.
The property was redeveloped in 2015; Tiffany and her husband covered all the renovation costs, while her father took over the work. After his parents divorced the following year, he asked for $5,000 in cash to get out of the arrangement. Tiffany refused. He later filed a $20,000 lien on the property.
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The house is worth about $63,000, leaving about $17,000. mortgage. Tiffany said they tried to pay her three times, offering $5,000 and $10,000, but she refused because she would have to share the money with her mother. The mortgage prevented them from selling the house.
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Tiffany said she had a house income around $150,000 and her net worth is around $500,000. Ramsey outlined two possible paths.
First of all, he could hire a lawyer and file a lawsuit to dissolve the partnership. A judge could order the property sold and resolve the $20,000 lien issue. He said legal action could cost between $10,000 and $15,000 and would likely end his relationship with his father.
“That would be justice,” Ramsey said.
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By the way, public server Kristina Ellis “What’s going on in the house right now? Are you renting? Is it vacant?” he asked.
Tiffany said the house is rented and brings in about $1,000 a month. After legal fees and the forced sale, Ramsey said he could net roughly $10,000 to $20,000.
Before finding out who had title to the property, Ramsey offered another option.
“Just walk away. Just throw the keys over your shoulder,” he said.
Ramsey said that given his income and net worth, he would pay off the remaining mortgage, sign a divorce to his parents, and let them handle it.
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However, Tiffany explained that because her parents are in Chapter 13, only she and her husband are listed on the deed and mortgage. bankruptcy at the time of purchase. He added that an Illinois law that goes into effect in 2023 allows some expired liens, including those that expired in 2018, to be removed without involving the person who filed them.
