Reply
Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011

Re: A very foolish friend... Is he screwed?

That sucks seriously that he has to buy her out.  Live and learn.  He won't make this mistake again !

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Senior Contributor
drkaje
Posts: 3,482
Registered: ‎07-25-2008

Re: A very foolish friend... Is he screwed?


Booner72 wrote:

That sucks seriously that he has to buy her out.  Live and learn.  He won't make this mistake again !


Only someone who didn't know him would make that statement, LOL!


Starting Score: 675
Current Score: EX ? FICO, EQ 708 FICO
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011

Re: A very foolish friend... Is he screwed?

drkaje - You mean he will make the same mistake again?

 

Boy it's been a while since this was posted - I guess people don't spend much time in the "relationship" section. 

How's it going for your friend?

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Senior Contributor
drkaje
Posts: 3,482
Registered: ‎07-25-2008

Re: A very foolish friend... Is he screwed?

Booner72,

 

He's still sharing the house with her. Both of them are waiting for a buy-out hoping selling the house will solve all their financial issues. She wants to sell and pay off CC debt, mortgage, and home equity loan. He wants $30K for a down payment on another home in the same area. 

 

Unfortunately, the appraiser was a little too generous with his estimate (my guess would be by about $20K) so both of them are kinda stuck with the price. I mean they both know it's wrong but each are determined to get that number out of the sale.

 

This will be the third house he's lost in a break-up/divorce.

 

He's currently seeking sympathy on Facebook. I'm not on any social network sites but the GF is. :smileyhappy:


Starting Score: 675
Current Score: EX ? FICO, EQ 708 FICO
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Senior Contributor
drkaje
Posts: 3,482
Registered: ‎07-25-2008

Re: A very foolish friend... Is he screwed?

Update: He's giving up rights to the house and reciving no compensation other than being off the mortgage.


Starting Score: 675
Current Score: EX ? FICO, EQ 708 FICO
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Blogger
FrugalRican
Posts: 2,876
Registered: ‎02-02-2012

Re: A very foolish friend... Is he screwed?

Do these three letters accurately describe your reaction: smh

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Senior Contributor
drkaje
Posts: 3,482
Registered: ‎07-25-2008

Re: A very foolish friend... Is he screwed?

[ Edited ]

FrugalRican wrote:

Do these three letters accurately describe your reaction: smh


In his defense.... the guy is very emotional, easlily led by women, and not too bright. Everyone begged, argued, and pleaded with him against signing half the house over to no avail. He wanted to make her happy (Honestly, I'd write "shut her up" but don't want to get anyone going) and stop hearing about how not being on the mortgage was too insecure a position to be in and live there.

 

It was a disaster we all saw coming but all the advice was met with his or her saying we were being unsupportive of their relationship. He also felt we couldn't see what a deep commection they had, versus all the other relationships, LOL! What a maroon!

 

The only real surprise would have been if he grew a pair or did something smart. Irony is he's actually not the type to learn from this at all and blames her for his stupidity. :smileyhappy:


Starting Score: 675
Current Score: EX ? FICO, EQ 708 FICO
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Super Contributor
marty56
Posts: 5,679
Registered: ‎10-06-2007

Re: A very foolish friend... Is he screwed?

It would be great if you could put a credit freeze on someone else's CR for their own good.

09/12/2013 FICO: EQ: 772 EX:813 TU:752
Senior Contributor
drkaje
Posts: 3,482
Registered: ‎07-25-2008

Re: A very foolish friend... Is he screwed?


marty56 wrote:

It would be great if you could put a credit freeze on someone else's CR for their own good.


He has no credit. The mortgage was privately held.


Starting Score: 675
Current Score: EX ? FICO, EQ 708 FICO
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Moderator
LIGHTNIN
Posts: 4,036
Registered: ‎03-24-2008

Re: A very foolish friend... Is he screwed?

Sad to say, I know 5 guys that every penny was sucked out of them by women, most even left with debt. Oh you know the end to the story, these women(can't say the word I wand to use) did move on to other victims.

One was a neighbor, he meet her after his mom passed away leaving him with an inheritance. Short story, they married bought the house next door PIF also a truck for him PIF, she mortgage the house away with a gambling problem, he sold his truck (that broke his heart)they divorced, bank got the house,she went her way he went his. I seen him again, a few years later and he said" he wants her back".

 

These women would divide and concur, want I mean is. After they came in these guys life's, they would cut off all contact with friends and relatives. By saying, all of them hate her, he's the only one who understands her.  Everyone but these guys could see exactly what was going on,these women brainwashed these guys.

 

One of these guys is a relative, all happened recently a week ago. He took out a car title loan a month ago, at 266% so she could have some money. I talked with her, she said it was her loan she would pay it back. Well that didn't happen,shes gone. I'm afraid he is going to lose the car. I called the loan place, they said he needs to pay 134 a week to refinance the loan with 5% going toward the principle. That should be illegal, I checked it's not.

 

I wish I knew, what we can do to save these guys, but I don't. Time and pray maybe the only things to helps.

FICO's Oct 2013 TU711 EQ713 EX723~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+