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Dave Ramsey Show, December 9, 2007

While watching the Dave Ramsey show last night, I caught one caller’s question and I definitely had a agree/disagree scenario over what Ramsey recommended to the caller.

The gist of the caller’s problems revolved around the caller losing their job (making $250,000 per year or so), but having a large mortgage payment. The caller believed that their home was worth $1.2 million, although I’m not sure how the caller came up with those figures. With property values falling in most areas, going by recent appraisals or even worse by Zillow’s figures can be very wrong. The caller said he owed $900,000 or so on the mortgage, and was hoping to acquire a new job at significantly lower income (in the low $100,000 range if I remember correctly). The caller had about $150,000 invested in stocks, and ask Ramsey what he should do to ward off foreclosure.

Read the rest of this article at the GUN finance site.