Dave Ramsey

They call the whole loan and the seller does not have the ability to pay that loan off.

And so they're going to get foreclosed on because the lien is still on your property.

You're going to end up losing the property.

So you need to get this refinanced and get these shysters or morons or whatever they are out of your life as fast as you can.

And you need a standard $380,000 mortgage and pay them off or $400,000 mortgage or whatever you got to go get to get them paid off as fast as you possibly can.

How long have you had the property in your name?

Good, because it's going to take 12 months before they'll look at appraisal versus acquisition.

Okay, and so now they can look at appraisal, and I assume the house is worth more than when you bought it.

So you guys have any money?

You obviously put down everything you had, right?

So I was just thinking we'd put some of that toward trying to... And if you can just get like your credit union to give you a $300,000 mortgage.

You know, just easy, just something quick, right?

Or call Churchill Mortgage, and they can help you walk through it.

But I would get this out of these people's names as fast as you possibly can.

And for God's sakes, get the homeowner's insurance in your name.

You have $700,000 of equity if this thing burns down that's going to go to them.

Oh, wow.

Yeah.

Yeah, because a homeowner's insurance is not in your name.

And by the way, you can't have insurance.