Latest BK13 Tribulations :Do They Ever End?

[underh20]

The purchase of our home in 2007 directly caused our filing of chap 13 in 2011, we spent closed to 120k in repairs financed thru a home equity LOC. We were blessed to complete our 5 year plan in 2016, the 120k LOC along with a significant credit card debts were discharged. Fast forward to 2021, we are still living in the same house, San Mateo county California housing market recovered, and our home has appreciated by 74%.
But in 2007-2011, buying a home is like catching a falling knife with no floor in sight.
We also owned 2 Chrysler vehicles back then that required significant repairs coz it was 18 years at that time. I learned how to be a shade tree mechanic and had done some really crazy repairs that were successful. We also had numerous unexpected expenses. Fortunately no one died.

It was extremely tough and challenging as we were going through the 5 year plan, and I sympathize with everyone going thru a year plan, but it was worth it in the end. Eyes on the prize!

[Barbisi]

Thank you underh20 for sharing your experience.
Some similarities, but many differences - my mother's 2016 death in the fixer upper that cost 100k + in repairs and updates with credit cards led directly to filing in 2017 after selling the lemon in 2016 and making zero profit, only clearing enough for a down payment on a second house with a mortgage increase of $700 per month, guaranteeing BK13.
My health problems have been relentless since then and culminated in a successful fibroid hysterectomy during Covid-19 restrictions in 2016. I am currently battling severe neck pain on the left side which is restricting movement (part of my ongoing struggle with the worst climate I've had to endure in my whole life.)To say moving here in the first place in 2010 was a catastrophic mistake is an sardonic understatement. LOL
To say I loathe this state for so many reasons fails to convey just how desperate I am to relocate to a truly mild climate and really enjoy the fresh start BK13 is supposed to be about -not making the best of a bad situation (and location) for the rest of your life!
I'm glad that staying in the same house and in the same state after BK13 was the right solution for your family , but that wouldn't bide well for us at all in the coming years.We are only still paying this mortgage because we have no right to sell and keep what will be( this time ) a considerable profit.
It's safe to say you are content where you are and feel no need to move permanently (as I do!) somewhere else. And hopefully once the trustee and Bk13 court is no longer the unyielding guardian of my economic life, we will be permitted to change so much I've grown to loathe during the pendancy of this BK13 term -where and how I can live!

[Carmella]

Barbisi Our house did play a role in our BK as well since we invested (on Credit) in all new windows and two fences and maybe something else right after buying the house and then shortly after my income fell by 25% and that started the ball rolling to our financial demise. We never recovered, tried many time to pay down the bills, but never had savings or cash to pay for future repairs for house, car or other life expenses in the family. It was always pay down almost everything and charge back up until the credit over took the situation and we couldn't pay it down.

Now we do plan to stay in the house or in this neighborhood unless my only child moves out of state I would be willing to move, most likely after retirement, so I could be near her and future grandchildren.

Let's just keep thinking every day is one day closer to the end of BK!

[Barbisi]

Amen to that , Carmella!
In our situation, without any living relatives (save very distant cousins) for me and relatives who are combative and estranged in another state in my husband's case, we have no earthly reason to remain here. Additionally,with no real friends and only indifferent acquaintances , we have zero ties here -a job , a mortgage and a solar panel lease are our only commitments -hardly reasons to remain in a location for the rest of my life which I thoroughly detest. (For example in Colorado we have had two quick moving Spring snow storms in less than a week with another coming to night (Wednesday) while most states are already enjoying a nice budding spring time with flowers and greenery.)
In less than two months , everything will be ugly and brown with temps near 90+ plus frequent if not daily wildfires. Nothing scenic unless you live for outdoor mountain activities ! So much for the beauties of high desert living LOL!
I am glad that your future is secure and free of strife and misery , but ours is 100% dependent on shredding the restraints of this BK13 while simultaneously planning and executing our permanent relocation to a new state where we can physically , mentally, emotionally , financially and spiritually flourish instead of preparing for a second inevitable BK13!

[Carmella]

I had to chuckle about your spring snowstorm since Ohio was hit with a snowstorm on Tues night and then a little more Wed night. Of course it will melt fast.

[Barbisi]

Carmella, the funny thing is the snow storm despite the weather prediction, missed the Denver suburbs and apparently headed straight to you guys as a sleeper surprise LOL!