Quicke23 , would you mind sharing your source for the loan? I am in a similar situation and within the 2 year window. Thank you!
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Does anyone have experience with a non qualified mortgage after Chp 13?
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Originally posted by bsmart View PostNorth Carolina. We are just starting the process. Thanks so much!
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Just an update, we signed final loan documents today, wired our down payment and closing costs and we are set to close Escrow on Wednesday! It's been quite an experience and we watched our home every step of the way, from a patch of dirt to the finished product as it stands now. The market continues to rise in the area along with interest rates. I'm looking to refinance in 8-9 months when my 2 years of seasoning is complete. Sure it sounds like we should have just waited until the 2 years was up before purchasing; but we got the house we wanted and the neighborhood sold out fast. 8 months of a premium payment was well worth it to us and the interest rate is still lower than the last time I owned a home in the early 2000s.
BK can be a fresh start, it was a wake up call for me. Since filing in 2014, I have worked hard, doubled my income and learned to save instead of borrow. Best of luck to you all. Regardless of what kind of shape you're in currently, life can get better if you put your mind to it. People will doubt you and tell you that you cannot do something. Just keep plugging away! 😊
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Quicke23 - Thanks for the update and congratulations on your closing tomorrow!!!! It's wonderful to hear a very happy ending with added good advice and encouragement!
I'm in WA state and our market is going crazy right now also; I don't blame you for not waiting for the two years to be done.Filed Chapter 13 - 07/20/12
Discharged 8/2/16
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Originally posted by sophieanne View PostQuicke23 - Thanks for the update and congratulations on your closing tomorrow!!!! It's wonderful to hear a very happy ending with added good advice and encouragement!
I'm in WA state and our market is going crazy right now also; I don't blame you for not waiting for the two years to be done.
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Thank you for the update Quicke23. Good call in buying sooner, rather than waiting after the 2 year 'seasoning' period. Probably 2 years from now, purchase price will be way higher. One could always refi in the event interest rates go down. I've read real estate in SoCal is red hot, buyers are over bidding because there is no inventory.
Congratulations and I'm happy for you.
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