Renee (Caller)

He's since changed his mind.

He's not going to gift us the land any longer.

He wants a charge of $60,000 for the lot.

Now, our only problem is he's only told us that 30 days ago, and we are not prepared for that.

We don't have the money.

We don't have the cash.

And so we're looking, because it's family land that's been in the family since the 60s,

And it's currently next to our current property.

And we're concerned that we would like to build maybe next to us at some point or at least not keep another home from being built.

And so we wanted to know, like, should we take out a loan?

And if so, like, I don't really want to take out a loan, but I'm scared.

I don't want to also lose this family land, and it's now or never.

He's listing it tomorrow, and so we're looking at taking out a HELOC on our current home, and we do own our current home.

No savings.

We just completed your plan here in January.

We do.

We are doing our 15%, and it's more because we obviously reached Baby Step 7.

How much is in your emergency fund?

12,000.

Okay.