I am not just a lawyer; I am a client too.
In 2008 I filed chapter 7 bankruptcy because my income was not enough to pay my debts. As a young father with a growing family, I wondered, when will I be able to get a mortgage?
For me the answer was two years.
I was able to qualify for a USDA mortgage about 2 years after I filed bankruptcy. The home was modest, but in a nice town.
As my family continued to grow. We sold our first home and bought another in the same town. This time, with conventional financing.
About 4 years after filing bankruptcy, I bought two homes.
I still live in the same home. Since I moved, I have lived frugally, saved and paid extra each month for the mortgage.
I still have the same car when I moved from my first home, I have not done any major renovations to my home and have never refinanced to take cash out of my home.
I was able to pay off the mortgage in about 11 years and now enjoy mortgage free living.
I did it. You can do it too.
