Hi everyone,
I am 14 months into a 5 yr, <100% repayment plan. I filed bankruptcy after a bad investment in real-estate and getting taken advantage of by a contractor. I can go more into that if asked but it was my ignorance and naivety that ultimately lead to where I'm at today.
I am currently renting. A friend would like to purchase a house with me. It is a mutual relationship though we are not married and not romantic. She has a substantial amount of money that was gifted to her but her monthly income is low. We believe using her gifted money as a down payment and with combined incomes, we could purchase a very middle class home together. Has anyone done anything like this during chapter 13?
Based on my calculations, my budget would remain the same with the house as compared to me renting. I worry that my trustee will not allow me to take on new debt or even worse, they allow me to take on new debt but increase my monthly payments since I would have a person sharing bills with me. I look forward to hearing your questions, comments, or concerns.
Thank you!
Jay
I am 14 months into a 5 yr, <100% repayment plan. I filed bankruptcy after a bad investment in real-estate and getting taken advantage of by a contractor. I can go more into that if asked but it was my ignorance and naivety that ultimately lead to where I'm at today.
I am currently renting. A friend would like to purchase a house with me. It is a mutual relationship though we are not married and not romantic. She has a substantial amount of money that was gifted to her but her monthly income is low. We believe using her gifted money as a down payment and with combined incomes, we could purchase a very middle class home together. Has anyone done anything like this during chapter 13?
Based on my calculations, my budget would remain the same with the house as compared to me renting. I worry that my trustee will not allow me to take on new debt or even worse, they allow me to take on new debt but increase my monthly payments since I would have a person sharing bills with me. I look forward to hearing your questions, comments, or concerns.
Thank you!
Jay
Comment