It was my dream home....

DAVE RAMSEY COST ME MY HOUSE! ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ DAVE RAMSEY COST ME MY HOUSE! Before the last recession, I had got myself to the point where I was 100% financially free as a 28 year old. As a result, I was very excited to buy my gorgeous 5600 sq ft dream home for only $612,000. It was one of those stunning show homes that many had walked through... and we were so happy that it was OURS! The floors had large travertine tile, beautiful railings, upgrades galore, majestic mountain views, and even a bright chandelier hanging from a lightly glowing dome. Mountain goats and deer would frequent our backyard. IT WAS MY FOREVER HOME. Like Dave Ramsey teaches, I was at the point of aggressively paying off my house. Worst case, if my savings ever ran out, I could either refinance some equity out, or even sell it because it had appreciated to $740,000 by the following year. THAT'S WHEN THE RECESSION HIT. Before I knew it, my savings was starting to run dry as business slowed. In the summer of 2007, I asked the bank for a loan. To my surprise, they said they're offering cash out refinancing anymore. WHAT?! "But I have equity and a great credit score!" "Sorry, the rules have been changing a lot lately." I tried to sell the house, but few could qualify for a loan at that price. Eventually, as prices came crashing down, I was feeling helpless and lost. The more I tried to get my business to turn around, another obstacle would appear. It was as if the whole world had stopped. "Make it happen" turned into "Make it through another day." Eventually, I tried to short sell the house (sell for less than the mortgage), but the bank blocked the buyers from getting the house. Thanks, Lehman Brothers! After a year and a half, someone bought my home at auction for HALF the price I bought it for! All of that equity ($150k) Dave Ramsey recommended? GONE! I would have been better off keeping that money in the bank savings instead of the bank's hands! Looking forward to the next recession, my advice is the same.... DON'T PAY EXTRA TOWARDS YOUR HOME.... KEEP THE EQUITY IN YOUR HANDS INSTEAD. THAT is the safer way to go. Paying extra payments is risky and gambling. If you're going to pay off your house, do it in one big check. And ONLY do that if you have a lot more cash burning a hole in your pocket. Take THAT to the bank! Learn from my story and do things differently! Chris [CASHFLOW CALCULATOR]( [INFINITE BANKING]( [CASHFLOW CONSULTING]( [Facebook]( [Instagram]( [Youtube]( Sent to: {EMAIL} [Unsubscribe]( Money Ripples, 224 S Main St #147 , Springville, Utah 84663, United States