Life after Chapter 7

[arholden]

February 2016 marked 24 months post discharge for me. On March 11 I filled out an application for a mortgage. On April 29, I closed on my house. At 41 years old, I am now a first-time home owner. Better late than never! Though I was so mortified at the time, I have to admit that filing bankruptcy was the BEST thing I ever did. I learned how to budget, learned how to pay bills on time, learned how to not get in over my head, and bought a friggin' house!

If you think your life will never be the same after bankruptcy you might be right- in the very best way possible!

[Anonymous]

Congrats! I'm in same situation as yours and as I await my 2 year post DC (June 2017) and I have been rebuilding nicely so far to be ready for mortgage and the house!

Cheers!

CAMailman

[FireMedic1]

Congrats! Same boat. Waiting and saving for that 2 yr mark so I can purchase a home to actually retire in. I should have filed 5 yrs ago. Life is stress free now. Having more in credit than yrs ago, better score and a savings account. Yeah it is a fresh start. Kinda funny. I can answer my phone everytime it rings now. LOL!!!!!

[Its_Me]

I beat myself up for a long time about letting myself get into a situation where I had to file but all you can do is move forward. I was able to close on a home one year post CH13 discharge, this past August. I am 44 and it seems like everyone around me is more settled than I am at this age but we all have a different story to live.

Congratulations on your new home!

[Anonymous]

The biggest congratulations to you!  Thanks for sharing.

[Anonymous]

I owned (still do) a home when I went for my Ch7 (Disc Jan16).  (Injured, out of work for quite a while, burned through savings and credit)  

Fortunately the Homestead exemption was large enough to allow me to keep the home.

Prior to filing, my rapidly declining financial condition finally convinced my "servicer" (another bunch of bast**ds that should rot, you know where) to cut me a break and cut my interest rate (it was actually the Judge in my Foreclosure case which told them DO SOMETHING, Now), which combined with getting better, a job and filing 7 was all a god send.

I'd agree, life after Chapter 7, Best thing ever. Scarier and depressing than hell getting there, but worth it. 

[Anonymous]

How long do I have to wait to buy a home?  I also have my VA loan.

[arholden]

FHA is 24 months post-discharge. I believe most conventional loans are 48 months (not sure if that's for ALL of them) and I have no idea for VA loans. Good luck!

[Anonymous]

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@Anonymous wrote:

Congrats! I'm in same situation as yours and as I await my 2 year post DC (June 2017) and I have been rebuilding nicely so far to be ready for mortgage and the house!

Cheers!

CAMailman

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Huge congratulations to you, OP! As for you CAMailman, I see you have an Amex in your sig. Are you an AU or did you app that?

[Anonymous]

Wow,congrats ! I know that has to be such a great feeling