Never understood the keeping up with the Jones's ideology. Looks like a small house for five ppl. This is a big problem these days. People do not plan BEFORE they buy or do something.
That house is a real POS. It's probably not worth 15k. And the car, maybe 5k if it's in mint condition with under 40k miles. How do people do this to themselves?
have these people no shame? this is begging 21st century style. how about going out and getting a 2nd job? if you have so little pride as to beg online, you can put aside your pride and flip burgers or something. and what if the classmates of their kids see this? they're gonna get teased.
its only 100k worth of debt. I mean their mortgage payment is probably around 400 per month, car payment another 200 and credit card & student loans maybe another 200. $800 per month is all they need to make payments...heck i spend more per month for my 1bd apartment. A part time (25 hours per week) minimum wage job will pay all their bills. Heck, just have the oldest daughter go get a part time job at walmart and combined with parents income, it will seem like they have no bills.
Maybe they can take a lesson from the Immigrants americans want to kick out. Everyone works, no creditcard, pool your money together as a family and save what you can and use the rest for the basics. Take public transportation or buy a used car for under 1000 bucks etc..