Dave Ramsey Blasts Unemployed Son As 'The Laziest Human I've Run Into' After Mom Covers His $30K Mortgage For Months

Ann, a caller from Ann Arbor, Michigan, said her son stopped paying his condo mortgage after losing his job in April. 

She told "The Ramsey Show" she has covered the payments because she co-signed the loan with her ex-husband and wants to avoid damage to her 820 credit score. The mortgage balance, she said, is about $30,000.

"This is about the laziest human I've run into," personal finance personality Dave Ramsey said.

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A Long History Of Financial Strain

Ann said her son bought the condo in 2004. She added that he fell behind about 10 years ago and entered a forbearance she helped support. When she described him as "unable" to pay since losing his job in April, co-host John Delony asked whether she meant unable or unwilling, and Ann said he was physically capable of working.

As the conversation continued, Ann said she had made most of the recent mortgage payments and her ex-husband had covered three. 

She also said her son did not want to sell the condo, even as she remained responsible for any missed payments. Ramsey said she cannot force a sale because her son owns the property. Delony said her son was dragging his feet because she had stepped in before and continued covering the payments.

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Possible Paths Forward

Ann asked what options she had to deal with the mortgage without putting her credit at risk. She first estimated the condo's value at about $40,000 to $45,000 before later saying her son "would be lucky" to get $60,000 for it. 

Ramsey asked about the remaining balance, and Ann replied it was about $30,000 with 11 years left on the loan.

Ramsey said one option is for Ann to buy the condo at an appraised value and then relist it herself, allowing her to exit the loan entirely. Ann said she could afford to buy it but had not decided whether that was the right step.

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Guidance For Ann's Next Steps

Ramsey said that continuing to pay ties her to the loan, while stopping payment would result in foreclosure because her name is on it. Delony said the repeated financial involvement has strained her relationship with her son.

Ramsey said Ann could tell her son he must either sell the condo to her at an appraised price or resume making the payments. He added that covering the payment does not require extensive income, saying someone could "do Uber one day a month and pull this off." 

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