When your mortgage consumes most of your take-home pay, every bill becomes a source of stress — and every month feels like survival mode, not financial progress. Lacey from Jacksonville, Florida called in to the Dave Ramsey show with this exact problem and wasn’t sure what to do next.
“I purchased my home for around $400,000 at the beginning of 2024. With the interest rate, it’s not really affordable. I thought that I could refinance. I make a good salary, but I’m living paycheck to paycheck, unable to pay the debt that I have. It’s kind of just there hanging around, not going anywhere, and I just want to get out of this house, but I don’t really have a solution to remedy this poor financial decision,” Lacey explained. (1)
Lacey told The Ramsey Show that her housing payment was $3,100, and her other debt payments for things like her car, credit cards and student loans cost her another $1,000 monthly. She has PMI on the mortgage since she took an FHA loan, and she’s added the credit card debt since she made the purchase…