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-- Vegas Nevada.
-- -- so what's up.
Game -- -- idea our you'll I'm OK infant.
-- am you know what I -- recently got engaged congratulations.
Being you know we're looking and -- that I can't get together right now it kind of scary.
And I wouldn't do that.
I would not put them together until you're married now all know.
How -- -- huge mistake.
-- -- Out came a long trip they shouldn't pay off his debts and he shouldn't -- -- -- until you're married.
Now you should work together and talk about what each other are doing so that when our plan comes together it's seamless but you know so when you get -- from the honeymoon -- together.
Right I mean yeah money is locked in one -- one but did want you know we now have debt.
So he's got ahead on his car it's now your -- -- after the marriage at least spiritually and relational it.
Legally it's still technically -- but you obviously going to be talking about how would you know how what -- budget look like if it was together.
And how we gonna get out of this debt.
And how we got to build some wealth and when we gonna buy -- house and you need to be talking those things through but you shouldn't combine the money until you're married okay.
-- K well thank -- wedding that.
And highly trained they'll -- it promptly got some time to practice on the budget didn't.
We do -- had a bet it together for both and that and the problem as he -- He had and kill buying a second -- and who I'm.
Although it is now worried about a 100009.
Black and -- -- has fallen from.
And we -- ever any doubt and hit it that people aren't paying their grandson now we've got a big problem solver had apparently you know he can't afford.
And looking at short felt -- -- what do you know about short settle.
A short sale is simply when you sell the house short of enough to pay off of that.
And so the mortgage company looks around -- look at the statistical evidence in the neighborhood there in Las Vegas and they say.
While a lot of houses just like this one up for sale while a lot of house has been foreclosed on.
Wow look at the prices in the neighborhood.
While based on all of that we don't think this house is worth 235000.
We think it's worth a 135.
And here's an offer on the table so we'll take that offer.
And we'll let low risk those -- go free.
That's a short -- an -- right down the debt they give up on part of the debt because they look around they know they're not gonna get their money.
How did that work as far as the -- credit I I hear that they go look like if you like what's -- -- the credit goes short sale and -- -- and then bankruptcy.
Correct that's exactly correct this is going to be a pretty significant being.
On its credit.
OK pretty heavy black mark but it won't keep you from ever get a golf over.
I mean but it may take you through three years though to qualify after a short sale for a good mortgage rate.
The firm and -- are Indiana house that he you know another house said he that.
He got -- picky but are unlikely I kinda gotten that is -- act death and that.
You know and the -- at a house is worth about ninety authorities in a black and what he paid for and.
Number I mean I don't recommend staying in that one and paying those bills.
As long as you -- enemy when you get married if you can afford to work together pay those bills and hold -- of that house.
I would stay in that one in and let the other one go in a short sale.
And so that'll give you time to pay those bills on timer early get to -- your -- cleaned up.
Build a good emergency fund by then the Las Vegas market may very well have recovered.
And so sit there for awhile and I think you'll be fine.
I don't know how long it's going to take but that market is obviously a boom town you know that system two years ago the fastest growing city in America.
And and now the foreclosure capital of America.
So you know what happened was a shot up too fast.
-- much and then there's been that what we in what we people in economics called cook a correction.
But when they use that nice little word it means a lot of pain for people like you know your fiance.
And so the market's -- down when will it recover it'll take time hopefully -- never boom quite the way it did because it was unrealistic before obviously.
I'd rather have slow steady growth than -- growth that comes crashing down on my head right.
I hope but I think I think so I don't know how long -- -- -- a slow steady growth brings you back.
I don't know.
But I'd sit there in that house and pay the bill let the other one go short sale and then give you time to rebuild your lives.
Credit wise and getting married we are able to combine everything and were.
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