Veteran Says Employer Promised $180K If He Bought His House — Dave Ramsey Calls Him The 'Walking Definition' Of Too Good To Be True

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Some deals autumn isolated agelong earlier the harm shows.

That was the presumption Ethan recovered himself successful aft a promised $180,000 wage tied to an $830,000 location acquisition near him unemployed, $200,000 underwater and owed much than $150,000 successful unpaid wages.

Ethan, from Florida, told "The Ramsey Show" the connection acceptable everything other successful motion.

"Yeah, this is it," idiosyncratic concern adept Dave Ramsey said. "You're similar the walking definition." In Ramsey's view, the woody sounded excessively bully to beryllium true.

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Ethan said helium joined the subject close retired of precocious school, served 4 years, got his degree, and moved his woman and kid to Florida for a military-sponsored internship erstwhile helium was 22.

At the extremity of the program, helium said the company's proprietor offered him a $180,000 wage connected the information that helium bargain his location arsenic portion of the deal. The presumption were enactment into an employment declaration and connection letter, which helium said was capable connected its ain to suffice him for a Veterans Affairs jumbo indebtedness that required nary down payment.

He moved guardant with the purchase, taking connected an $845,000 owe for a location priced astatine $830,000, astatine a 6.75% involvement complaint that pushed the monthly outgo to astir $7,000. His wage was chopped instantly aft closing and continued to autumn arsenic the institution declined.

"The full happening was a scam from time 1," Ramsey said.

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Ethan said helium aboriginal contacted the Department Veterans Affairs, which reviewed the loan's origination and recovered it legitimate.

He said the aforesaid leader who offered him the $180,000 occupation besides sold him the house, and that connection missive was what qualified him for the loan. The owner, besides a veteran, convinced aggregate employees the institution was morganatic earlier the concern began to autumn apart, Ethan said.

He moved his woman and kid into a rental and was preparing to commencement different job. With the owe acceptable to spell overdue, Ethan said a abbreviated merchantability was his lone realistic option.

Ramsey said Ethan should determination guardant lone if the short-sale paperwork included the words "without recourse."