I agree with you totally. I could not believe this lady's advice. A three-tiered mortgage for the first couple? The Extreme Home Makeover (EHM) couple SHREDDED a number of their financial records? Is that not a red flag that the couple didn't want anyone to know what they were spending? Why is this expert worried about their credit scores? Dave Ramsey, multimillionaire financial entrepreneur,says his credit score is zero! The EHM couple also lied to the financial expert, and neither she nor Dr. Phil called them on it. (He usually get mad at liars because people can't fix what they won't acknowledge.) The EHM couple told the financial expert that they didn't get any money from EHM, yet they told Dr. Phil they had received $100,000 for expenses. Well, aren't taxes expenses? If taxes are $5,000.00 yearly as they say (How do they know if they've shredded their records?), $100,000 would cover their taxes for 20 years. Are they air conditioning, heating, and feeding the neighborhood? Surely the $6,000.00 a month they claim they spend just to live includes credit card payments and other loans. One final question: Did the bank that held the mortgage on the first home actually let EHM demolish the house without paying it off first? The does not sound like any banking institution to me. I would love to see Dave Ramsey on a show with these people. Someone at the Dr. Phil Show certainly dropped the ball on the EHM couple.
