Cullen and Katie: Drowning in debt, parenting is inept | Part #24

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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by brittknee » Fri Jan 24, 2020 7:14 am

honeybear wrote:
Tue Jan 21, 2020 10:54 am
Can someone explain why someone would take their home off market and relist it? What are the benefits of that
I’m late on catching up on comments but being in the real estate industry myself I can tell you that 90% of the time it’s because the sellers are pricing the home too high because property values and appraisals won’t back that high price up. And although with some loans banks will allow you to pay what you want for a home (if it’s higher than the appraisal) most loans won’t allow you that. Think of it like a car loan most banks won’t lend you $25,000 for a car whose MSRP is $19,000. Katie and Cullen are very much upside with their home and wanting to price it to a point where they’re able to make some money on it but unfortunately that’s not going to happen. At this point they’ll be lucky to make an even break.

Another likely reason is because people have come and viewed the home and noticed it’s just not worth the price they’re asking. This can include needing things to be done such as repainting or new hardware and fixtures throughout and with a home that size it can get costly. I’m not saying this is the case but the fact that he sat on a video and said he had to sell an iMac just to feed the family tells me they didn’t want to do any of that at the time and because of that they kept trying to see who’d bite and buy the house by lowering the price every couple of weeks little by little.
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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by Boymomma123 » Fri Jan 24, 2020 8:49 am

This two have an excuse for EVERYTHING! They couldn't edit/upload yesterday because something happened with the house, they are just SO busy! They could never handle working jobs that actually required them to leave the house. They are claiming to be in financial ruin and their video content is actually starting to build some momentum for their channel. Which means more views/income and potential sponsors yet they can't even commit to uploading consistently. What do they do all day that they have no time for work? Yet they claim they have no time for a second job outside of social media? I am really beginning to think that this is all just a big lie for views, or they are just that lazy.

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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by honeybear » Fri Jan 24, 2020 9:08 am

brittknee wrote:
honeybear wrote:
Tue Jan 21, 2020 10:54 am
Can someone explain why someone would take their home off market and relist it? What are the benefits of that
I’m late on catching up on comments but being in the real estate industry myself I can tell you that 90% of the time it’s because the sellers are pricing the home too high because property values and appraisals won’t back that high price up. And although with some loans banks will allow you to pay what you want for a home (if it’s higher than the appraisal) most loans won’t allow you that. Think of it like a car loan most banks won’t lend you $25,000 for a car whose MSRP is $19,000. Katie and Cullen are very much upside with their home and wanting to price it to a point where they’re able to make some money on it but unfortunately that’s not going to happen. At this point they’ll be lucky to make an even break.

Another likely reason is because people have come and viewed the home and noticed it’s just not worth the price they’re asking. This can include needing things to be done such as repainting or new hardware and fixtures throughout and with a home that size it can get costly. I’m not saying this is the case but the fact that he sat on a video and said he had to sell an iMac just to feed the family tells me they didn’t want to do any of that at the time and because of that they kept trying to see who’d bite and buy the house by lowering the price every couple of weeks little by little.
Thank you! Are they not just able to change the price while it's on the market? Like say they are trying to get 300,000 for it (I know these numbers arent accurate) when its appraised at 200,000. They cant just knock off 100,000 and be done with it, it has to he taken off market first? Interesting

Also if I was so desperate to sell, I'd leave it on the market while I do painting and other projects in the meantime lol

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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by PirateWench8 » Fri Jan 24, 2020 9:17 am

honeybear wrote:
brittknee wrote:
honeybear wrote:
Tue Jan 21, 2020 10:54 am
Can someone explain why someone would take their home off market and relist it? What are the benefits of that
I’m late on catching up on comments but being in the real estate industry myself I can tell you that 90% of the time it’s because the sellers are pricing the home too high because property values and appraisals won’t back that high price up. And although with some loans banks will allow you to pay what you want for a home (if it’s higher than the appraisal) most loans won’t allow you that. Think of it like a car loan most banks won’t lend you $25,000 for a car whose MSRP is $19,000. Katie and Cullen are very much upside with their home and wanting to price it to a point where they’re able to make some money on it but unfortunately that’s not going to happen. At this point they’ll be lucky to make an even break.

Another likely reason is because people have come and viewed the home and noticed it’s just not worth the price they’re asking. This can include needing things to be done such as repainting or new hardware and fixtures throughout and with a home that size it can get costly. I’m not saying this is the case but the fact that he sat on a video and said he had to sell an iMac just to feed the family tells me they didn’t want to do any of that at the time and because of that they kept trying to see who’d bite and buy the house by lowering the price every couple of weeks little by little.
Thank you! Are they not just able to change the price while it's on the market? Like say they are trying to get 300,000 for it (I know these numbers arent accurate) when its appraised at 200,000. They cant just knock off 100,000 and be done with it, it has to he taken off market first? Interesting

Also if I was so desperate to sell, I'd leave it on the market while I do painting and other projects in the meantime lol

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When you hire an agent with a realtor to sell your home you usually sign a contract with that agent to list your home that is for six months. If the house doesn’t sell in that time frame you can stay with your current agent or sign with another one. When you decide to sign with another one your home will become unlisted for a couple days to a week. The new agent will want to take their own pictures that they feel best showcase’s the home and will set a price for the home that they feel will drum up interest and sell the home. Cullen and Katie have already said they switched agents so that explains why the house was taken off the market for a few days.


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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by Ducklings4 » Fri Jan 24, 2020 10:20 am

I have sold three homes. Each time I bury a statue of St. Joseph facing my home. The first time he was upright and the house took a while to sell. I then read he was suppose to be upside down. The second two times he was upside down facing the house and both houses sold prior to going officially on the market. Cullen and Katie should give that a try.


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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by honeybear » Fri Jan 24, 2020 10:25 am

PirateWench8 wrote:
honeybear wrote:
brittknee wrote: I’m late on catching up on comments but being in the real estate industry myself I can tell you that 90% of the time it’s because the sellers are pricing the home too high because property values and appraisals won’t back that high price up. And although with some loans banks will allow you to pay what you want for a home (if it’s higher than the appraisal) most loans won’t allow you that. Think of it like a car loan most banks won’t lend you $25,000 for a car whose MSRP is $19,000. Katie and Cullen are very much upside with their home and wanting to price it to a point where they’re able to make some money on it but unfortunately that’s not going to happen. At this point they’ll be lucky to make an even break.

Another likely reason is because people have come and viewed the home and noticed it’s just not worth the price they’re asking. This can include needing things to be done such as repainting or new hardware and fixtures throughout and with a home that size it can get costly. I’m not saying this is the case but the fact that he sat on a video and said he had to sell an iMac just to feed the family tells me they didn’t want to do any of that at the time and because of that they kept trying to see who’d bite and buy the house by lowering the price every couple of weeks little by little.
Thank you! Are they not just able to change the price while it's on the market? Like say they are trying to get 300,000 for it (I know these numbers arent accurate) when its appraised at 200,000. They cant just knock off 100,000 and be done with it, it has to he taken off market first? Interesting

Also if I was so desperate to sell, I'd leave it on the market while I do painting and other projects in the meantime lol

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When you hire an agent with a realtor to sell your home you usually sign a contract with that agent to list your home that is for six months. If the house doesn’t sell in that time frame you can stay with your current agent or sign with another one. When you decide to sign with another one your home will become unlisted for a couple days to a week. The new agent will want to take their own pictures that they feel best showcase’s the home and will set a price for the home that they feel will drum up interest and sell the home. Cullen and Katie have already said they switched agents so that explains why the house was taken off the market for a few days.


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I appreciate those comments! I am just about getting ready to buy my first home so I like learning about the processes.

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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by Nifer9900 » Fri Jan 24, 2020 11:41 am

As someone who has struggled with money due to various circumstances, I would find any money available to keep my kids active in their activities. While I don’t agree with all of their choices, there is no worse feeling than being upset/frustrated/depressed on your financial issues and taking your kids out of things because of your own mistakes. Been there, done that, it’s not fun. :(

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I know they will probably say they don’t want their kids to do without their normal activities, but they must not be struggling THAT hard to put food on the table if Gaines is still in gymnastics. They’re either lying about having no money or their parents are paying for activities.


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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by Boymomma123 » Fri Jan 24, 2020 12:06 pm

They admitted what we all have been speculating on here. They are behind on their mortgage payments so losing their house is more of a possibility than we thought.

Yet there they sit still bot facing reality and getting second jobs to help pay for their debt. Plenty of yt creators have day jobs! If you are that in debt and unable to pay bills work more! This is so infuriating!

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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by marshmallowfluf » Fri Jan 24, 2020 2:18 pm

Wow an entire video of them coloring..

Also, how ironic that Katie was sooo stressed out about the finances that she had to check her heart rate on her APPLE WATCH.


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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by GGF1987 » Fri Jan 24, 2020 3:55 pm

Coloring sheets to show them how good they are doing paying off their bills??? Are they 2? I also think he is still on something.
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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by shortstop » Fri Jan 24, 2020 4:50 pm

Man to get paid 28k for one month
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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by Romeoxsavexme » Fri Jan 24, 2020 4:57 pm

shortstop wrote:Man to get paid 28k for one month
This is why I think this whole thing is a ploy to get more views. Like they knew they’d get this check that would knock out a significant amount of debt and they will be seen as being successful in the debt free community and more people will watch but then on the other hand that money may not do much for them since they are behind on their mortgage. Did they say how far behind?


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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by Boymomma123 » Fri Jan 24, 2020 5:21 pm

They made it seem like the didn't pay the mortgage the whole time it was under contract before their contract with their realtor was up. I think it was under contract for all of November so they could be 2-3 months behind. They acted like they were surprised that the bank sent them a notice because they missed some payments. I can't believe they are that naive/stupid. This has to be an act to get more viewers or plot twist they are doing a sponsorship with Dave Ramsey and this is all some big scheme.

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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by GigglyMint » Fri Jan 24, 2020 5:43 pm

If they should be setting ~40% aside for taxes, that cuts the 28k down to $16,800. They’re at least 2 months behind on a mortgage that is 3k minimum. $1000 car payment, $1500 health insurance , $3300 minimum payment on credit cards... they’re down to $5000 before utilities, other bills, the kids school, the kids extracurriculars, gas and food.

The 28k is virtually gone without them paying a penny of debt. And they still showed they don’t understand credit card interest. (Paying $1500 on your 39k bill doesn’t bring the bill down $1500 because next month the CC company adds interest to your new balance). If December is the most lucrative month for marketing and ads, they either HAVE to make more money or have less bills. Obviously selling the house would be huge. 2nd jobs would help. They really need to talk to someone who knows and understands finances and maybe even bankruptcy laws. If it’s this bad they’re in a hole they might not can get out of without filing.
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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by honeybear » Fri Jan 24, 2020 6:00 pm

I really dont think they are that far behind. Once the house and car sells, that will help significantly.

I think they will bounce back quickly which is a slight shame as I think some humility will do them well.

But anyways like I said, once the house and car are gone, their monthly payments will be slashed drastically and they'll be able to throw so much money on this debt.

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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by HelloSweetie » Fri Jan 24, 2020 6:23 pm

honeybear wrote:I really dont think they are that far behind. Once the house and car sells, that will help significantly.

I think they will bounce back quickly which is a slight shame as I think some humility will do them well.

But anyways like I said, once the house and car are gone, their monthly payments will be slashed drastically and they'll be able to throw so much money on this debt.

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I disagree. They aren’t far behind IF they make some really radical moves and lifestyle changes. Just selling a few things isn’t going to get them very far. My husband and I make more money than they do, and our home is much more normal and understated, we both drive paid off vehicles that are older, and we spend far less on alcohol, clothes, memberships, etc. Even so, you’d be surprised how far a significant amount of money doesn’t go when you’re in a high tax bracket, have kids in extra-curricular activities, and like to vacation once or twice a year.

I may be the only one, but I actually think they are in more trouble than most people think. They should have 10 years of retirement savings building interest by now. Sure everyone would love to have a nice vehicle, but if you start saving when you’re young, it really starts to add up as you get older and the interest compounds (and you don’t get used to spending everything).


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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by Coletrain_04 » Fri Jan 24, 2020 7:00 pm

I agree. They need to completely change their lifestyle. Pull the kids out of preschools and after school activities. How in the world could they justify going on a weekend trip when they are behind on mortgage payments?!?! They couldn't pay for gas, food, Christmas etc. They should have stayed home and worked on content. Pre recorded videos. Planned out the budget. And colored those damn sheets ahead of time.

They keep saying "we're learning...we're learning". But weren't they hard core DR followers for yearsss???
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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by Connell1992 » Fri Jan 24, 2020 8:05 pm

I’m new to watching them. Can someone tell me what drugs Cullen was addicted to? I went back and watched one of his videos from last January, but it was just him fake sobbing and going to an NA meeting. Also, if he’s truly an addict, then why is he still drinking?



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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by rosie_dalia » Fri Jan 24, 2020 8:34 pm

Isn't the house is listed for less than they paid for it?? Add in Realtor fees and closing costs and the likelihood it will sell for even less than the current listing price and they are 100% going to still OWE money on the house after the sale. They've said they have only paid off about $45K on this house!!

Selling the car isn't going to help them either. Cars don't have great resale value. I did a random search of resale prices for 2018 Suburbans and it's likely they'll just break even.

Plus, it's almost TAX TIME again.

JEEZ! They are in a really terrible place (if they are being honest about the #s). No wonder they drink! LOL!
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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by CooperFairbanks » Fri Jan 24, 2020 8:56 pm

This pair will be lucky to get credit again in the next 5+ years even if they clean their act up. To be so blasé about getting behind on mortgage repayments etc. It puts you in breach of contract, and banks (where I'm from, at least - not the US) will not lend to you if you are 1) in arrears on a loan 2) are overdrawn at all over the last 3 months or 3) have defaulted on a debt recently (12+ months depending on the debt). These two are screwed.

Also, who the fuck owns a golf cart? Are you retirees in a Florida retirement community? No. So what on earth possessed you to buy such a useless thing? So bizarre.

Also - the Apple Watch = $550 where I live. Airpods, which she was wearing on the plane to Universal = $250 minimum here. Why hasn't she sold these things? Ridiculous.

Again, it's all talk and no action so far. What have they actually DONE since starting this series? Nothing. Not one fucking thing. Load of hot air.
Last edited by CooperFairbanks on Fri Jan 24, 2020 9:04 pm, edited 1 time in total.
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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by rosie_dalia » Fri Jan 24, 2020 9:00 pm

Something is NOT adding up! They said in today's video they still have savings and an emergency fund, but they are ALSO totally SO BROKE they can't get groceries and gas????

Also, Cullen drank TAP water and thought that was some sort of major life-changing sacrifice? JEEEEEEEZUS. These two are horrible people who deserve their current situation.
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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by lmmomSD » Fri Jan 24, 2020 9:48 pm

rosie_dalia wrote:Isn't the house is listed for less than they paid for it?? Add in Realtor fees and closing costs and the likelihood it will sell for even less than the current listing price and they are 100% going to still OWE money on the house after the sale. They've said they have only paid off about $45K on this house!!

Selling the car isn't going to help them either. Cars don't have great resale value. I did a random search of resale prices for 2018 Suburbans and it's likely they'll just break even.

Plus, it's almost TAX TIME again.

JEEZ! They are in a really terrible place (if they are being honest about the #s). No wonder they drink! LOL!
Plus, part of their debt is a home equity line of credit, right? That comes off the top beforehand they get anything out of the house sale.
They aren't going to make anything off of their house, and I think they are going to have to bring cash to closing.

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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by rosie_dalia » Fri Jan 24, 2020 10:04 pm

lmmomSD wrote:
Fri Jan 24, 2020 9:48 pm
rosie_dalia wrote:Isn't the house is listed for less than they paid for it?? Add in Realtor fees and closing costs and the likelihood it will sell for even less than the current listing price and they are 100% going to still OWE money on the house after the sale. They've said they have only paid off about $45K on this house!!

Selling the car isn't going to help them either. Cars don't have great resale value. I did a random search of resale prices for 2018 Suburbans and it's likely they'll just break even.

Plus, it's almost TAX TIME again.

JEEZ! They are in a really terrible place (if they are being honest about the #s). No wonder they drink! LOL!
Plus, part of their debt is a home equity line of credit, right? That comes off the top beforehand they get anything out of the house sale.
They aren't going to make anything off of their house, and I think they are going to have to bring cash to closing.

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At this point I don't know if they can avoid bankruptcy/foreclosure. The house isn't going to sell until at least summer and if they are really that far in debt with not a lot of income coming (aside from the BIG MONEY from holiday ads), then they are totally screwed!

I can't believe they are really behind on mortgage payments AND income taxes. They also failed to mention if they are in arrears with their HOA or property taxes—those issues will also lead to foreclosure on your home.
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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by lovingthisforum » Fri Jan 24, 2020 10:45 pm

I can't believe Katie doesn't understand that when she pays $1500 toward debt it won't decrease as much because it will increase next month with interest again.

Also Cullen tearing up...only for Katie to compete: "I cried yesterday."
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Re: Cullen and Katie: Drowning in debt, parenting is inept | Part #24

Post by Boymomma123 » Sat Jan 25, 2020 1:16 am

I agree with everyone else here, I don't see how they can possibly get out of this without a foreclosure/bankruptcy. They were still on the fence about selling the golf cart in the latest video. Claiming it is hard because they worked so hard for it. Plus it is so nice for the kids to unwind with a ride around the neighborhood.

Take your kids and dogs on a damn walk every night it will do the same thing. They are so self absorbed it is insane. They just keep talking about selling more stuff but no mention of the suburban. If they were smart they would trade it in and get a car with a much lower monthly payment. I really think they are banking on the house selling and then all of their problems will go away. Katie sounded so dumb acting like making the minimum payment would make the cc debt go down. They still don't understand the whole debt snowball despite acting like they know everything about DR.

I think that their bills way exceed their monthly income so any hope of paying down debt is impossible without more income. Most people who succeed with dave Ramsey's method have plenty of income to pay their existing bills they simply make cuts to their budget and go without nonessentials to pay down their debt. These idiots still think that vacation was free!

I feel bad for Cullen because I think he understands the severity of their situation much more than Katie does. I don't think they are on the same page as each other in the slightest. Katie says things and Cullen's eyes just dart around and he looks so stressed. I think he may realize they need outside income and knows Katie is the only one with any earning potential. She is so adamant about not returning to work I doubt he can even say anything. She was placing blame on him again and acting like she is so responsible and didn't buy thousands of dollars worth of kids clothes over the years. They mentioned cancelling getting their groceries delivered to the house and switched to walmart pickup which makes no sense because isn't there still a processing fee? That seems like a luxury they can't afford.

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