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Further background

October 8th, 2013 at 01:24 pm

Hi all,

I wanted to clarify that before the downfall. I had a (or so I thought) $500k equity across my homes (all fake I know) and $400k cash or cash equivalent mostly in 401k or stocks. All of that was essentially lost and I was driving this 2003 Saab 9-5 (which I loved!) but was breaking all the time.. so the 'change' started for me in 2011 when I settled with all my minor debts ($15k across cards, medical, attorney) and then filed Chapter 7 to protect myself from the homes and constant late pay reporting on my credit while I attempted loan modifications. I then returned to work in 8/2012 and started gathering up what I have now. In June of this year I began my 5 year plan. I had not bought much or done much for ME in from 2009-2011 so the first thing I did when I got my job was to replace the 'on its last legs' Saab and my creaking Ford Expedition. I love cars and love to drive.

I used to go to Dunkin Donuts every day and be afraid my card would not go through. I still feel this fear come up today. Smile

2 Responses to “Further background”

  1. TashaC. Says:

    Curious to one day hear the story of losing your financial footing. I bet that must be a long complex story. But having perspective years later will help fill in the red flags and be a good learning experience. Congrats on the rebuild!

  2. LivingAlmostLarge Says:

    How did you decide to buy a bunch of houses and rent them out? Did you need money down? How do you decide to do such a thing? Obviously you've done it before.

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