#getting a mortgage without a deposit

[kawaiiblossoms04]

NeXT on A Day in a Life—Dating Nanami Kento: A Love Story in Financial Planning Pt. 8| Nanami x Reader

THE WEDDING WAR ROOM

It's been two months since you and Nanami moved into the new house.

You invited your girls over for a casual housewarming hangout to check out your new house—or so you told Nanami.

But.

In reality?

It's a wedding war room.

The living room looks innocent enough—candles flickering, a charcuterie board on the table, wine glasses in hand. But at the center of the coffee table?

A full spread of bridal magazines, Pinterest boards, and wedding venue brochures.

Nanami has no idea what he's walking into.

The house was supposed to be peaceful today.

That was Nanami's one expectation.

But as he steps to the front door, loosening his tie, there's an unmistakable vibe in the air.

A bad vibe.

The kind of vibe that says:

"You have no control over your life anymore."

And then he hears it.

💬 The Wedding Discussion That Should Not Exist

"Okay, but listen, a Bora Bora wedding would be gorgeous," Mei Mei muses, sipping a glass of Nanami's expensive wine like she owns the house.

"I'm just saying, if this man can afford a whole mortgage, he can afford an overseas ceremony," Nobara adds, lounging on the couch like she paid for it.

"Exactly," Mei Mei agrees, tipping her glass. "Bora Bora. Exclusive. Luxury. Minimal guests, maximum budget."

Maki sighs, arms crossed. "You're all unserious. Just rent out a high-end venue here and be done with it. No one wants to fly 14 hours to see Nanami in another beige suit."

Shoko, half-drunk with a half-empty glass of wine, lifts a lazy hand. "Second that: I think it's hilarious that this man doesn't even know y'all are planning his wedding without him."

You, sitting in the middle of the chaos, sipping tea like this isn't absolutely insane, just shrugs.

"I mean... Nanami did just moved to a higher performing firm as their new CFO three months ago and with the move to the new house...I just want us to celebrate us, you know? And not stress him out."

Shoko swirls her wine, unimpressed. "You're such a sugar baby, Y/N."

"I am NOT a sugar baby." You clutch your imaginary pearls in offense.

You—luxury robe, imported tea, nails and hair freshly done, skin glowing, sitting in a house you didn't pay for, with a man funding your entire existence—blink.

Nobara leans forward, squinting. "Girl. You're a sugar baby."

Maki says flatly: "You don't have a job, Y/N."

A beat of silence.

You blink.

Nobara, squinting: "Girl. What do you do all day?"

You scramble. "I—I contribute!"

Maki deadpans. "To what? The economy?"

Shoko exhales. "This is getting sad."

"I DIDN'T ASK FOR THIS LIFE."

Mei Mei smirks, tipping her glass. "And the crazy part? She's not even some beginner-level sugar baby running around in Shein. No, no. Y/N has ascended. She's in her Final Form. The Housewife Era."

Shoko nods approvingly. "Honestly? I respect it. If I could scam a man into loving me this hard, I'd do it too."

"IT'S NOT A SCAM, IT'S LOVE."

Mei Mei swirls her wine, unbothered. "Love with direct deposits and an 850 credit score, babe."

Nobara starts counting on her fingers. "House? Paid for. Bills? Paid. Our last girls' trip? Fully funded. Your closet? Probably filled with designer brands you can't even pronounce." She pauses, then smirks. "Actually—I'll prove it. Go get your purse."

You frown but grab your bag anyway.

With zero hesitation, Nobara snatches it from you.

"Exhibit A—" she holds up the bag. "Chanel. And not just basic ass Chanel—this is high-tier, 'my man funds my existence' Chanel. Right, Mei Mei?"

Mei Mei barely glances up. "Mhm. Chanel Pink Iridescent Quilted Caviar Jumbo Classic Double Flap, Light Gold Hardware, 2019 release... $8,900, give or take."

"Hey, that was for... uh..."

Before you can even finish, Nobara dives inside—"Exhibit B—"And pulls out the sleek, black Amex card Nanami gave you.

Silence.

Then, you double down.

"That's... that's just my emergency card—" you stammer.

Maki crosses her arms, deadpan. "Emergency for what? Running out of Dior?"

"It's not what it looks like! I'm still cheap!" you insist, reaching for the card.

Shoko tilts her glass, smirking. "Oh? So if I open your banking app right now, it won't show a fully comped five-star spa day?"

Your soul leaves your body. "I... I coupon sometimes! I HAVE THE TARGET CIRCLE APP! I can explain."

Nobara squinted. "Oh, what'd you save, five bucks on candles? While you shop at Restoration Hardware and Erewhon for the rest of your life. I saw a Jar of Sea Moss in your influencer-life stocked fridge."

"NANAMI TOOK ME...TIK TOK MADE ME DO IT...I SAID I CAN EXPLAIN...,"

Mei Mei grins, sipping her wine. "No, you can't."

"He just loves spoiling me, okay?"

Maki, unimpressed. "And you didn't even have to pop out a single kid for it. That's efficiency."

She side-eyes you, tilting her head.

"But let me get this straight."

"You went from making lattes to corporate executives baby doll overnight...AND YOU DIDN'T NEGOTIATE A SALARY?!

Nobara gasps, slamming her drink down. "WAIT. IS THIS VOLUNTEER WORK?!"

Shoko, deadpan, takes a sip. "Charity case, actually."

Maki, shaking her head, disappointed: "A non-profit wife. Couldn't be me. But Honestly? I should be taking notes. What coffee shop were you working at when you met him?"

Nobara snaps her fingers. "He could be paying you a salary for just existing, girl. What are you even doing?"

Flustered, you scramble. "Im not a corporate executives baby doll...I clean, and cook... and—"

Maki, flat: "So do maids, Y/N. And they get paid."

"But I take care of him. I handle that and all the little details! His dry cleaning, his lunch—"

Nobara sips her drink, unfazed. "Baby girl. It's three things: coochie, comedy, and cuteness. That's it. You're getting a whole CFO salary off that."

You stare into the void, gripping your tea, voice soft, haunted. "...Shit."

You inhale sharply. Eyes wide.

"WAIT."

"Does this mean... I've NEVER actually had to budget in my life??"

Your hand shakes. Your tea spills slightly.

"Have I...Have I been a PRINCESS this whole time??"

A hush falls over the group.

Maki blinks. "Jesus Christ."

Mei Mei smirks. "Go on, babe. Keep connecting the dots."

You grip the coffee table for support.

"Oh my god. I was never meant to struggle."

More gasping.

"I was put on this earth... to be pampered. To be spoiled. To THRIVE."

You clutch your chest, taking a dramatic inhale, and your eyes sparkled.

"Have I... been a kept woman this whole time??"

Mei Mei actually chokes on her wine. Shoko wheezes.

Mei Mei clinks her glass with Shoko, grinning. "Ah, she finally gets it."

Maki shakes her head, unimpressed. "This is the worst character development arc I've ever witnessed."

And just as Nobara opens her mouth to continue the previous topic and justify financially devastating your husband-to-be—

The front door clicks open .

😨 The Collective Realization

Silence.

The worst kind of silence.

The kind where every single woman in the room realizes at the exact same time—

💀 Nanami is home.

💀 Nanami has walked into the trap.

💀 Nanami, already exhausted from work, is about to experience the worst conversation of his life.

For exactly three seconds, no one moves.

Then—

"HE'S HERE, EVERYBODY ACT NATURAL," Nobara whispers.

Mei Mei exhales. "Too late."

Shoko snorts into her glass and cackles.

Maki shakes her head. "Own your crimes."

Then, in perfect unison, every woman in the room turns toward the door, smiles, and sings—

"Hi, Mr. Nanami."

You grin brightly. "Hi, honey!"

And then—

Nanami stares at all of you, his face unreadable.

"What. Is. Happening."

Nanami Walks In Like a Condemned Man

His honey-whiskey gaze slowly sweeps across the room, assessing the scene of the crime.

Five women. Wine glasses. An iPad open to a Pinterest wedding board. A mini whiteboard with "Operation Nanami's Wedding Fund" written in calligraphy.

Nobara with a calculator, talking about "Ring ROI" and "Guest List ROI."

A printed-out Pinterest board labeled "Mr. & Mrs. Nanami - EST. (TBD). Fabric samples spread and a catering menu from Ruth's Chris Steak House across the coffee table.

His jaw ticks.

Nanami exhales. Oh, for fuck's sake.

"Nice house, Nanami. Marble floors, high ceilings, big pool...." Mei Mei adds coolly.

Nobara throws an arm around you. "Ooohh yea... What a happy couple. In their cute little mini mansion... which just so happened to have TWO MASSIVE WALK-IN CLOSETS. I'm jealous of how in love and monogamous you must be to decide to make this purchase for Y/N."

"Completely," Mei Mei says smugly, lifting a glass. "They are the definition of 'marital bliss.' In fact, I'd assume the purchase of this house was also an attempt by you to conceal the true meaning that you've gotten an expensive engagement ring for our dear sweet friend?"

"Should I even ask?" Nanami sighs.

You set your tea down slowly, eyes wide, innocent. Too innocent.

"Well, honey, we were just having a casual discussion—"

"Your wedding," Nobara cuts in bluntly.

😩 Nanami's Soul Leaves His Body

His jaw tightens. His shoulders tense.

His entire existence flashes before his eyes.

"My what," he says slowly, as if he misheard.

Mei Mei hums, swirling her wine glass. "You know. The one you're already financially obligated to."

Nanami blinks. "...Obligated?"

"Mm-hmm," Mei Mei nods. "Would be a shame if a certain someone wasted their youthful beauty waiting for a proper proposal, don't you think?"

Nobara leans forward. "And considering the whole 'wife' slip-up, the mortgage situation, and the fact that she's already running your household..." She shrugs. "Might as well just do it."

Nanami pinches the bridge of his nose.

Shoko, lifting her glass lazily, "It's inevitable. Might as well let us plan it so you don't have to think about it."

Nanami's eyes snap open.

"I don't have to think about it?" His voice dropped so dangerously even though you know he's seconds from snapping.

Mei Mei just smiles.

"Exactly. Just sign the checks and show up, darling."

"Sign the checks...?" he echoes faintly.

Your girls nod.

"Yes," they agree in perfect unison.

He stares, processing.

😂 Nanami's Immediate Regret

His entire future flashes before his eyes—a wedding he did not plan, a Bora Bora bill he did not approve, a lifetime of being outnumbered by you and your friends.

Nanami glances at you.

The only person in this room whose opinion actually matters to him.

And the worst part is—

You're not even disagreeing.

You're just smiling at him sipping your tea. Innocently.

Like you knew this was going to happen.

Like you let it happen.

"Ah. Betrayal." You act like you're not part of the chaos, but you're actually their ringleader.

He exhales sharply through his nose.

‘YEAH, WELP, YOU'RE GETTING DUMPED IN THE WOODS.’ You thought.

Mei Mei is cackling. Nobara is mildly entertained. Shoko is drunk. Maki looks not impressed.

And you? You are going to be an accessory to Nanami's manslaughter charges if this goes any further.

Time to play the 'stop torturing my fiancé' card, besties.

"Okay, ladies," you cut in casually, "maybe that's enough. Let's get you more wine—we wouldn't wanna overexcite the big guy here," you laugh, rising up off the couch.

Then—without a word—turns on his heel and walks directly into the kitchen.

From the kitchen, Nanami can still hear:

"SIR, WHERE ARE YOU GOING?!" Nobara cackles.

Maki sighs. "He's going through the five stages of grief."

Shoko toasts. "To Nanami. May his suffering be brief."

Mei Mei smirks. "Oh, no. It won't be."

You slide off the couch, padding toward the kitchen as your girls continue debating floral arrangements. Leaning against the counter, you watch Nanami pour himself a generous drink. He downs it in one go before finally turning to face you. "You okay, honey,"

He levels you with a long, exhausted stare.

"You planned this, didn't you?"

You bat your lashes. "Baby, I had no idea they were gonna ambush you like that."

A long, quiet pause. Liar. A Beautiful, infuriatingly sweet liar.

"...You're a menace."

You grin. "Mmm, but I'm your menace."

Nanami exhales deeply, setting his glass down. "Unfortunately." He should've stayed at the office. Overtime sounds peaceful right now. But no he has a life sentence with no parole.

You step into his space, smiling up at him like you're the perfect, doting fiancée and rest a hand on his chest. "I'll make it up to you. You know I hate seeing my hubby stressed."

His brow lifts slightly. "How?" Oh, here we go. The part where I lose.

You motion him to lean down, to which he complied and you whisper something in his ear.

Nanami freezes.

Slowly—he straightens back up, looking down at you. His gaze is intense, boring directly into your soul.

"...Don't start. Not right now." His baritone has shifted—low and a bit rough, controlled and steady, even though you know how affected he actually is.

You reach down, gently rubbing him over his pants. "It's something new and different. I think you'll love it, sir."

Nanami mutters something under his breath.

You tilt your head, blinking up at him, your voice all soft and syrupy. "What's wrong, honey?" you purr, pressing your palm firmer against him, feeling the way his cock twitches beneath his slacks.

"Y/N," he warns. His voice is low, strained, but you can hear it—the hesitation, the unraveling.

You lean in, pressing soft, lazy kisses along his jaw. "Yes, sir?"

He exhales sharply, his fingers digging into your waist, grip tightening like he's grounding himself.

You smirk. "So... what if have a local wedding can I have an overseas honeymoon?"

"Bora Bora," you murmur, nipping at his earlobe.

"Not happening."

"Paris?"

He groans, tipping his head back against the counter. "Y/N—"

You press your lips to his throat, voice smooth as silk. "Let me convince you, sir." You hum, tracing slow circles on his chest. "Hmm. It could somewhere exclusive, luxurious, and—"

"You mean expensive."

Your grin widens. "Doesn't have to be..."

Nanami exhales sharply, staring at the ceiling. He knows he's already lost. Hell, he lost the moment he walked through the front door.

He grabs your wrist, pulling your hand away from his growing erection before you ruin him completely. His breath is harsh, labored.

"Do you even know what you're doing?" he rasps.

You tilt your head, blinking sweetly. "Just helping my hardworking fiancé relax."

"Y/N." His tone is slow, firm—a warning. "This is really not the time."

But you just bat your lashes, fingers grazing his belt buckle like you're innocent.

His hands slide down, gripping your hips, pulling you closer. His body relaxes, tension slipping away, melting into your warmth, the steady pulse of his own life and beating.

Then—he moves.

With one deliberate step forward, he guides you back—until your spine meets the cold steel of the refrigerator.

Trapped.

The air shifts, thick with something unspoken as his body presses against yours, solid and immovable. The cool metal at your back is a stark contrast to the heat radiating from him.

Then—he tilts his head down, whiskey eyes locking onto yours.

"Behave." His whisper is a growl, dark and dangerously low.

A slow grin curls at your lips before you press a quick, teasing kiss to his.

Then he exhales. A deep, heavy sigh. "...I'll think about it."

Victory.

From the living room, Nobara shouts, "WE ALL KNOW WHAT THAT MEANS. START BOOKING THE SUITE Y/N."

Mei Mei clinks her glass. "To the future Mrs. Nanami."

Shoko chuckles. "Rest in peace, my guy."

Nanami shuts his eyes.

His life is no longer his own.

And yet...

He wouldn't have it any other way, because he knows life without you would be dull, colorless.

—

Next on Dating Nanami Kento: The Revenge Proposal

All rights reserved © 2025 KawaiiBlossoms. Do not copy, translate, or modify my works on any platform.

[am-i-the-asshole-official]

I have a light one that’s kind of dumb.

🐶🐱

AITA for wanting a dog even though my sister/housemate does not?

To start, nobody is allergic to dogs or has a fear of them, she just doesn’t want it.

(if ages and gender are important, we’re both f in our early 20s)

I grew up on a farm with lots of animals. There were always cows, I had goats, there were chickens, ducks, barn cats and of course, 1-3 livestock guard dogs at a time.

When I was 16, I had a senior spaniel who had to be put down due to heart problems. Ever since I have been asking if I can have another dog but my parents have said no.

Around a year ago now I sold my goats and moved out of my parents house into an apartment. The apartment didn’t allow any pet bigger than my little gecko.

Then, about January, my older sister started messaging me with images of houses on a realtor site. So we looked at houses. I agreed to buy a house with her 1) so she could move out of our parents house and 2) because being by myself in the apartment with no real friends wasn’t really that good for my mental health.

To her credit, she did get a kitten from our farm and let me keep it, although I didn’t really want a house cat. The main reason I wanted a dog was for the amount of exercise it would need, and I would have to take it for long walks. Not to mention litter boxes aren’t my favourite thing to deal with. Still, I am glad I have a little animal to cuddle.

Additionally, most of the times when I bring up wanting a dog or getting a dog, it’s either in a jokey matter or it’ll be in contrast to something (for example there was a shady guy hanging around our street the other night and we don’t have an actual alarm for our house, so I went “yknow if we had a yappy little chihuahua it would be an alarm enough” or something like that) to which she will reply something short and growly along the lines of “you’re never getting a dog in my house”

Her reasons she gives for not wanting a dog? Number one, it’s “her” house. (It’s in both of our names, I paid half the down deposit and I pay half the mortgage and bills, and I pay for the Wifi. I’m not paying her rent, we both own it) Number 2, her friend is allergic to horses. (A friend that never comes over to our house anyway, and I understand fur allergies are complicated but it’s a dog. We aren’t anywhere NEAR horses! We live in town!) (this one is also BS because sister wants to buy a farm and have Clydesdale horses) Number 3, it sheds. We have a cat. The cat sheds more than the breeds of dogs that I really like or want. One of my favourites are the Xolo dog. Which has no hair. At all. Number 4, the cat is scared of dogs. (She isn’t. She’s never seen one in her life. I can get her used to having a dog around easily, even if she starts afraid. I’ve done it before when our parents have gotten new dogs around new cats.)

I’m not going to go behind her back and bring home a dog (even though there have been opportunities to get a free puppy multiple time) but I’m not going to stop wanting to have a dog or wanting to get one or talking about what dogs I like.

Our grandparents are moving to town and selling their farm next year, which sister wants to buy with me. I told her I’d like to move out of town into a farm, but only if she let me get either a dog or a donkey to protect our property against coyotes. (Especially considering we both want chickens if we get a farm)

She got really pissy at me about that, and stormed off. AITA here? I think she’s being a little unreasonable. I’m not a bad pet owner at all, I work with my animals as much as possible. I had my billy goat following me around the farm without a lead before I sold the goats, for pineapple’s sakes!

What are these acronyms?

[kagaintheskywithdiamonds]

it just occurred to me that drifter stan probably didn't have a bank account. which means he operated completely in cash, and any money he had to his name was likely somewhere on his person at all times (or stashed somewhere in his car, at best)

and I was almost like "well no he must've had a bank account if he was selling infomercial products" but I'm aware that there used to be a thing called "cash on delivery", where if you want to buy a product from one of those ads you can pay for it in cash when it's delivered instead of sending payment info over the phone. maybe that's how all his products were sold

anyway this is wild to me because I grew up in a world where you can't really exist on the grid without a bank account. it's kind of a necessary prerequisite to participate in society. maybe it was easier to do without one in the 70s/80s, at a time when paying for things in cash was more common in general, but it's still a wild concept to me

and, real talk for a second, it sheds some light on the problem of real-life homelessness and why it's so difficult to get out of. you can't really save up any money if you have no safe place to store it. and can you even get a legit, legal, not-sketchy job that way? is there any employer (even in the 70s/80s) who would pay their employee with a stack of cash each week? like most of us these days use direct deposit, but the alternative to that is a physical check. that's why it's CALLED a paycheck. how do you cash in your paycheck if you don't have a bank account?

anyway once he co-opted ford's identity he presumably just used ford's bank account. he mentions "I had to pay the mortgage somehow" and yeah that's another thing that I don't think it's possible to do in cash. which also makes me wonder what he did after bringing ford back from the portal. I guess he's back to being off-the-grid again, especially what with being legally dead and all

[msfbgraves]

Do you think Daniel is a millionaire in the show? And that Terry really is a billionaire? Idk how Johnny and Miguel survive in California, poor things.

I think that Daniel has, as I think they call it, "excellent collatoral", or "liquidity" or some shit, which means that he can borrow all the money for his expenses. I mean, to open a business, with their backgrounds, they will have saved for a deposit on a loan, no way they were given that money. May have been an investor if they were paying a cut of their future profits. So, do they have a million in the bank after everything they owe? I really doubt it. Could they get their hands on like 300 k if they needed it? Yes. Is that money theirs? No.

They have a shittown of money coming in on car sales, but they owe the bank a shitton too. They need to keep a lot of money flowing. The trick is to gradually owe the bank less and less, so that at the time you come to sell the business, most of that sum is yours. But you also don't give all your money to the bank. Most small business' owners pensions are what they get when they sell the business. Now, a single car wash in Alberquerque cost about 900 k. Daniels owns four or so franchises, which are definitely worth several millions when sold. But how much does he owe? If they want to give the business to Sam, they can't live off the money for the sale. Which means they must have invested in some form of pension. Which may actually pay out several hundreds of thousands a year should the time come. And of course by then they could make a good profit on their house which is also worth over a million.

But that all depends on the business generating that sweet sweet money for the bank business loans and the pension funds and the mortgage and the insurance... If that stops spinning money, and the price they can get when they sell it drops - they're in deep shit. And I mean deep shit. So if they lose their supplier, Doyona? Which means they have to pay a lot more per car to sell when switching to another? Yikes, that is really serious. So it doesn't really matter how much he has in the bank. The question is how much can he get upon sale and when not selling, how big is his pension payout, and how much will be left. Will they downsize the house upon retirement? How much will they get for that?

Will Daniel be a millionaire when the business keeps doing well and all that profit starts flowing in to their bank accounts, owing the bank less and less? Yes! But they might have to employ Sam for a decade or so, so that they can build up personal wealth to retire on. They have access to money now based on the performance of the business, but that money isn't theirs. If everything got really bad they could probably pay off the bank with the sales of the business, sell their house and still have a million left with that, so they'll be able to live without worry as perfectly normal middle class people. But the lifestyle they have now is dependent on a money generating business. They make a big payout, or they cash in on the money they make the last decade they own it before they pass it on? Yeah, they're millionaires.

But now, they're not. The value of the business tanks, a wealthy future goes with it.

Terry is bribing judges and buying up Cobra Kai franchises out of pocket. He doesn't give a shit if any of his franchises, or the whole business, tanks. He's investing in other people's businesses...

He's definitely someone who owns hundreds of millions. Is he a billionaire? A billion is 1000 million. I don't know. Probably. It's not something you can tell anymore by what car or wine or house they own. Nothing you consume is making a dent on even 500 million. It's staggeringly much. So maybe he isn't and can still easily fork out millions to invest in some kind of startup. But, the way he uses connections? And where he is? Keeps investing even now?

Very likely.

[argumate]

The BTFP allowed banks to borrow up to 100% of the face value of bonds issued or guaranteed by the U.S. Treasury. In practice, this mostly meant mortgage-backed securities (MBS) and collateralized mortgage obligations (CMOs) from Fannie Mae, Freddie Mac, and Ginnie Mae. Until January 25, 2024, the interest rate on BTFP loans was set daily at the 1-year overnight index swap (OIS) rate, plus 0.1 percentage point. There was no prepayment penalty. The goal was to allow lenders with unrealized losses on their bond portfolios to be able to get cash at relatively attractive terms without having to sell assets that would eventually be money good.

This may have been helpful during the spring of 2023, as depository institutions borrowed almost $100 billion between mid-March and early June. After that, however, things had stabilized, and there was less of a point to the program. Yet by November, something strange had happened: the terms of the BTFP had created an opportunity for anyone willing to exploit it by borrowing cash from the Fed via the BTFP and lending it back to the Fed by holding reserves, or to other banks by lending intraday or overnight. Lenders did this in size, not only refinancing their existing obligations, but increasing their net BTFP borrowing to a peak of almost $170 billion. Intriguingly, tax-exempt credit unions were among the most aggressive users of the facility for this purpose.

ugh the more I think about government bonds the more of a bad deal they seem for everyone, just let financial institutions deposit at the fed and withdraw at any time instead of selling them bonds then letting them borrow against those bonds, which is the same thing but far more prone to runs and crashes and stupid scams like this.

[fenrislorsrai]

How to Get a 401(k) Match for Your Student Loan Payments

Wall Street journal article

Thanks to a provision in the Secure 2.0 Act, legislation aimed at improving retirement benefits nationwide, in 2024 employers will be able to start counting student loan payments as qualifying contributions toward retirement matching programs.

That means if your employer offers to match your 401(k) contributions, you could get that matched money without ever depositing funds in your retirement account. Instead, your monthly student loan payments would count as your “contribution.” 

The benefit could be especially significant for recent graduates, who often have moderate incomes ($58,000 to start, on average) and high levels of debt (an average of $33,000 for federal borrowers aged 25 to 35). 

“A huge portion of their paychecks go toward paying skyrocketing rent, mortgage payments and other living expenses,” says Joelle Spear, a certified financial planner with Canby Financial Advisors in Framingham, Mass. “Adding monthly debt payments to this mix can leave them with very little extra to save for their retirement.”

For struggling borrowers whose employers opt to offer these new matching benefits, it “will make a difference,” she says. Here’s what you need to know. 

How student loan-retirement matching programs work

In a typical retirement matching program, an employer opts to match some or all of the money employees save in 401(k)s or similar retirement accounts, up to a certain percentage. 

For a simple example, if you contribute 5% of your annual salary into a 401(k), your employer may throw in 5% as well. Under the new law, if you are paying 5% of your salary toward student loans—and potentially none toward retirement—your employer can still opt to put that 5% in your 401(k). If you make $70,000 a year, that could amount to up to $3,500 contributed to your account annually. 

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If your employer does offer this benefit, there are rules. First, you’ll have to have an eligible retirement account—either a 401(k), 403(b), 457(b) or Simple plan—and make payments on a “qualifying education loan.” This means a loan used to pay for educational expenses for you, your spouse or a dependent.

You’ll also need to “self-certify” that you made the payments, according to the Secure Act, but the exact process for doing that isn’t clear yet. It will also likely vary by employer. “My guess is every employer is going to want to have proof in one way or another,” Vipond says.

Finally, keep in mind that your contributions cannot exceed annual retirement contribution limits set by the IRS.

[luthwhore]

i am buying a house, and (maybe) you can too!

so... you want to buy a house, but you don't make a lot of money and you have no way to save up the recommended 10% recommended downpayment on a mortgage, which means you're basically going to be stuck renting forever, right?

well... actually, maybe not!

this post is going to be very US-centric, so i cannot speak to the homebuying experience in other countries, but if you live in the united states... you might be able to buy a house for much less up front than you might think!

this is gonna get long, but the main things you'll need are:

a credit score in the low- to mid-600s. this can vary by program, but most down payment assistance programs require somewhere between a 620 and 660. (i might make a second post at some point about credit scores bc fixing my credit score was a long and arduous process.)

enough in savings to cover a few up-front expenses. there are a couple of things that the down payment assistance programs won't cover. for me, we ended up having to pay ~$1500 up front total, which - to put it in perspective - is less than the deposit and move-in fees were going to be at most apartments in our area.

that's basically it! if you can do those two things, you might be able to buy a house!

let's talk about the details.

programs vary by state, but most states have down payment assistance programs of one kind or another. there's also a federal USDA loan program which is $0 down as well, but is only available in rural areas.

these programs WILL usually require you to have a certain credit score, usually somewhere in the 600s. (the particular program my housemates and i are using requires a minimum 640, but some require a higher or lower credit score than that.)

usually your first step is speak to a mortgage lender. the mortgage lender i'm working with is only available in the state of tennessee and not all mortgage companies accept all down payment assistance options, so i would research options in your state and then check to see if the programs have a list of preferred lenders and/or loan officers.

this sounds scary, but my loan officer has been a life-saver during this process. generally your loan officer wants to help you succeed, particularly when they know you're a first time home owner. tell your loan officer that you're going to be a first time home owner and you're interested in a $0 down payment program. they can run the numbers and see if you qualify, and if so, how much you can qualify for.

you can have multiple people on the mortgage with you, but everyone on the mortgage has to meet the credit score requirement.

if you do qualify, also talk to your loan officer about how much you can pay per month for a mortgage, too, since this might also impact what price range you're shopping in.

you'll also want a real estate agent. (trust me on this. you want a real estate agent.) my loan officer recommended a real estate agent to me and we quite literally could not have done this without him. your real estate agent does a lot more than just help you find houses to look at. they will also point out things that you might not know to look for and will also help negotiate with the seller for you.

when you talk to your real estate agent, tell them you are using a down payment assistance program and that you will need the seller to cover your closing costs. closing costs, for reference, are a bunch of small expenses that are paid when you officially sign the mortgage. typically both the buyer and the seller have separate closing costs, but it's fairly normal for buyers to ask the seller to pay for their closing costs for them in the current market. your real estate agent can then negotiate for this for you.

if the seller covers your closing costs and you can get approved for down payment assistance, there are only three things you will probably have to pay for out of pocket:

"earnest money." this is a small sum of money you pay to hold the house after the seller accepts your bid. (in our case, we paid $500 for our earnest money.)

the home inspection. our home inspection was also about $500, though the price of this could vary based on where you live.

the home appraisal. for us this was also about $500, though again, this could vary based on where you live.

and that's basically it! obviously talk with your loan officer and real estate agent about the cost of these things bc they might not be the same cost for you as they were for me, but for us, this ended up actually being cheaper than moving into a new apartment!

[menolly5600]

Is anyone else intensely confused about how Bruce Wayne lost the majority of his billionaire fortune and even lost Wayne Manor after Joker War?

Can anyone explain how Bruce lost billions of his total worth?

I feel like the writers don't know how money, assets, and business actually work...

Apparently Vandal Savage bought Wayne manor from the bank? How?

Bruce wouldn't sell his childhood, ancestral home and lands, especially with the Batcave underneath. It's the home he was raised in and one of his last links to his childhood, his parents and Alfred. The Wayne lands were a land grant to his ancestor Darius Wayne for distinguished service during the Revolutionary War. It's not like he had an unpaid mortgage where the bank could seize the manor.

It just doesn't make sense that he suddenly is so broke he can't even keep his childhood home so the bank sells it to Vandal Savage. He wouldn't have had a mortgage on his ancestral land grant. So the bank couldn't seize the manor. Even if he was just down to less than a hundred million dollars, he should still be able to afford the upkeep on the manor. It's not like his taxes take into account the Batcave as taxable square footage.

And if the manor and ancestral military service land grant was seized by the government, why?! You have any idea how many people would be up in arms at the thought that the government could seize anyone's home at the drop of a hat? Without even invoking eminent domain and going through the legal channels to do so? And not just anyone's home, but a rich person's home. Rich people across the nation would be throwing fits and money at legislators to get laws in place against sudden seizures of their homes. Or to legally prove the government overreached and doesn't have authority to do that.

If the government seized the property because of the Joker's actions then it still belongs to Bruce even if it's tied up in red tape as a crime scene. (And how did Joker gain possession of the manor in the first place? Certainly not in a legally recognized way, because he's the Joker. So it's stolen property to be returned to the rightful owner, Bruce.) Where are Bruce's lawyers to contest the seizure and unlawful sale?

And Bruce's reputation tanking makes no sense. The Joker stealing Wayne tech and money and using it to wage war against Gotham has nothing to do with Bruce being culpable for any of that. Brucie Wayne is a himbo playboy. He's a victim in this. Joker stole from him and used stolen property in his insane schemes. He does that all the time to other victims he steals from. Since when has being stolen from by a Rogue meant the people stolen from were at fault and culpable for the Rogue's crimes using the stolen property? Where is Bruce's PR team?

I still don't even understand how Joker got control of the company? He's a mass murdering domestic terrorist and judged clinically insane. There's no way his acquisition was legal. Then he stole everything from Bruce's bank accounts, but that's theft, not a legal transaction. So theft insurance with the bank should kick in.

Bruce was majority shareholder of Wayne Enterprises. This man plans for every contingency he can. There's no way he would own less than 51% of the shares in the company, to guarantee he remains in control of his company. Joker electronically draining his bank accounts of liquid cash wouldn't give him the shares. There's no way Joker could walk into the bank and legally claim the safe deposit boxes with legal documents, if they're even kept in the bank. Even if the Joker physically took control of the WE building and held it hostage to use the tech to make weapons, that doesn't mean he legally gained ownership.

Even if Bruce later was forced off the Board through a no confidence vote, he would still own the shares and receive dividends from them. Kicking him off the Board doesn't mean he's not still the majority shareholder. The Board cannot just revoke his shares, he owns them. How could they possibly force him to sell his shares? And if he did sell, he'd make a fortune from the selling. If he keeps the shares, he still would make tons of money from the company, unless the whole company went under.

Even if his bank accounts were cleaned out, millionaires and billionaires don't keep the majority of their worth in liquid cash assets sitting in banks. The majority of his wealth would be tied up in investments, companies, properties, stocks and bonds, trust funds, retirement portfolios, etc. He'd have to have people managing his portfolios and assets, otherwise he'd have no time to be Batman.

His asset portfolio managers would be people who would need way more than just an email or phone call telling them to liquidate his assets, before they'd tank his entire fortune portfolio. That's their highest profile client and a victim of past identity theft. No way would they dump his entire assets into a liquid bank account that someone could empty without all kinds of legal hoops and paperwork and triple verification in person that Bruce really wants them to set fire to his asset portfolio. That's not even taking into account that the banks would likely freeze Bruce's accounts at an unexpected massive attempted withdrawal of billions. That's a huge red flag in the bank systems.

Even if his bank accounts were cleaned out, banks have identity theft insurance. Bruce Wayne is his bank's biggest, highest profile client. Bruce is a past victim of identity theft. How could he not have identity theft insurance with his bank? The bank itself has theft insurance. And having Bruce's accounts all suddenly cleaned out and Bruce reporting it as an identity theft hacking crime means it's a bank account theft.

And apparently Catwoman stole Bruce's money back from the Joker, but then gave it to Lucius Fox to keep the FBI from watching the money. Why? It's legally Bruce's money. He had it before it was stolen, and the FBI weren't watching it then. Why would they monitor his spending now, if he got his liquid assets back? Are they looking for proof he's funding Batman? Legally, Bruce could put his money in overseas Swiss Bank and outside of the FBI jurisdiction, like rich people often do to hide what they spend on and how much they actually have. FBI couldn't do anything to stop him because it's perfectly legal to get a new bank account. It's more suspicious that Lucius Fox suddenly has billions in his bank account, right after Bruce's billions disappeared.

Unless they're trying to fraudulently collect insurance on the stolen money, and keep the retrieved money, it doesn't make sense to not return the money to Bruce. Am I missing something here?

It just doesn't make sense.

[punkrockisafulltimejob]

I literally grew up below the poverty line. My income, as soon as I had a job, went to supplement the household, and with a disabled father my income was the secondary income. We were still below the poverty line. "New" was a novel concept to me and my siblings, because nothing we ever got was new.

I have been blessed with opportunity, I got a full time job, a husband with a stable income, and a third income via my MIL. We just bought a condo, and we were able to spend some money renovating (out of necessity, rather than desire), but we are still firmly lower class. All three of our cars were used when purchased. Mine is 20 years old, and I'm at least the third owner. I'm currently ignoring my check engine light because I cannot afford the repairs I know my car needs. We are basically going to be scraping to pay the mortgage and our bills for the next several months while we attempt to build up a savings again, but more likely than not we're going to be back to living paycheck to paycheck for a while, especially since I can no longer work full time because of my declining health.

The life I live is one singular step up from the poverty I was raised in. When I was a kid, we juggled which bills we'd pay that month. As an adult, I'm using every single penny I have to pay my bills, and even then sometimes I miss a payment on something because I have to wait for my next check to get deposited.

I am poor. I am lower class. Unless something drastic happens in my life, I will always be lower class. This is not a luxury lifestyle by any means. If you try to tell me how "good" I have it because my husband and I, as well as my MIL, have a three income household and can pay the bills, I will eat you. I've lived the lowest of the low, and this is barely above that.

I would (figuratively) kill for a middle class lifestyle. I would love to be able to pay off all my bills and debt and have the automatic payments come out without me obsessing about it it'll put me in the red. I would love to be able to buy books whenever I want them, and not think twice about telling my husband we need to buy another book shelf to hold them. I would love to be able to quit my job and live solely off my husband's income so I can be the house spouse I want to be. I would love to turn my long weekend birthday trip to the beach/fave used book store into a week long adventure, and not have to use the cheapest motel in the area for two nights. I would love to have my hobbies be hobbies and not something I need to monetize in order to make ends meet. I would love to be able to go out to dinner and a movie once a month with my husband, cover the bill for my friends at lunch, buy a new laptop when I need one instead of praying my decade old computer pulls through just a little bit longer. Being able to bring my car to the shop when needed and not having to scrape to pay the mechanic would be amazing. Any of that would put me at *maybe* lower middle class. Not even firmly middle class, lower middle class.

I am not middle class, and I am not your enemy. People who are middle class are not your enemy. People living a life of luxury as celebrities aren't even your enemy. It's the billionaires who profit off of your labor without regard for the fact that you're a human being who deserves to live that are your enemy. Eat the fucking rich.

Ive noticed recently that my generation has... no concept of what the various economic classes actually are anymore. I talk to my friends and they genuinely say things like "at least i can afford a middle class lifestyle with this job because i dont need a roommate for my one bedroom apartment" and its like... oughh

You guys, middle class doesnt mean "a stable enough rented roof over your head," it means "a house you bought, a nice car or two, the ability to support a family, and take days off and vacations every year with income to spare for retirement savings and rainy days." If all you have is a rented apartment without a roommate and a used car, you're lower class. That's lower class.

And i cant help but wonder if this is why you get kids on tumblr lumping in doctors and actors into their "eat the rich" rhetoric: economic amnesia has blinded you to what the class divides actually are. The real middle class lifestyle has become so unattainable within a system that relies upon its existence that theyve convinced you that those who can still reach it are the elites while your extreme couponing to afford your groceries is the new normal.

[seo12a]

Low deposit home loan melbourne

Dreaming of owning a home but worried your deposit isn’t enough? At Ingenious Finance, we help first-time buyers and growing families secure low deposit home loans in Melbourne—even with as little as 5% deposit.

Whether you’ve saved a small amount or have access to a guarantor, our mortgage brokers guide you through the process of buying a home with minimal upfront savings. We make it easier for everyday Australians to get into the market sooner, without unnecessary delays or stress.

What is a Low Deposit Home Loan?

A low deposit home loan allows you to borrow up to 95% of a property’s value—meaning you only need a 5–10% deposit instead of the standard 20%. In some cases, this loan can be combined with the First Home Loan Deposit Scheme or a guarantor loan to help you avoid costly Lenders Mortgage Insurance (LMI).

[am-i-the-asshole-official]

WIBTA for banning alcohol from my house?

For context, I (25nb) am buying my first house with assistance from my parents. They are matching my deposit amount with their own money to make it easier for me to afford the house and subsequent mortgage. Part of this arrangement would be that my dad can stay in the house when he is visiting nearby family (I am moving to the city near my grandparents).

I am very aware that I am in an extremely privileged position to be able to do this at my age, and I am extremely greatful to my parents for providing me with the assistance to do so.

That being said, both of my parents drink and I hate alcohol.

Growing up, they always drank during meals and after work. They were frequently drunk around me and my younger sibling. A lot of my memories as a teen were having to drag them upstairs when they passed out on the sofa or patch them up when they fell over drunk.

It was only in the last few years where we were able to beg them to cut down. Even now they still both drink heavily during parties and weekends. To the point where our family friends and extended family even have a kind of joke about it. Much to my embarrassment and shame.

I, myself, barely drink. I only have one glass on very special occasions or a couple of drinks when out with friends. I dont drink at home and I dont drink at family events. I even feel sick around the smell of beer, wine and prosecco (my parents' favourite drinks).

For all those reasons, I am considering partially banning alcohol from my home (when I get it).

I know they are helping me out with the house, I know that I wouldnt be able to afford this without them, but I just dont think I can stand having it in the house. The ban would mean that any alcohol on the premises would have to be there is small quantities for special events only, tho I am even considering banning this as well. Tho regardless of my decision on that, there would be no casual drinking in my house at all.

I love my parents a lot. They have been so understanding of my sexuality and gender, and so supportive of me and my sibling. I just dont think I can have alcohol in my own home.

WIBTA if I put this into place despite my parents both being drinkers?

What are these acronyms?

[loaneasyhome]

Top First Home Buyer Loan Schemes That Could Save You Thousands

Buying your first home? Buckle up , it's a wild ride. One minute you're browsing listings with stars in your eyes, the next you're hit with a wall of confusing costs and acronyms. Sound familiar? You're not alone. Luckily, there's a bunch of help available if you know where to look. That’s what this is about. Let’s talk about first home buyer loan schemes. These aren't some mystery program only accountants understand, they’re real options designed to give you a leg-up into the housing market. At Loan Easy, we speak to first-time buyers every single day. We know the struggle, and more importantly, we know how to make things easier.

What Are These Schemes All About?

Imagine you’re planning a trip overseas, but someone offers to cover part of your flight. That’s kind of what these schemes do. They help with things like your deposit, stamp duty, or even insurance fees, stuff that can pile up fast when you’re buying a house. First home buyer loan schemes are usually government-backed (some are from banks too) and meant to help folks who haven’t owned property before. Depending on where you live and what your situation is, you might be eligible for more than one. Yep, that’s right, more than one.

The Support You Didn’t Know You Needed

Let’s break it down. Here are a few types of support you might qualify for: 1. Government Grants Think of these as welcome gifts for buying a home. You don’t have to pay them back, and they can go straight toward your deposit or other upfront costs. Free money? Yes, please. 2. Low Deposit Options Saving a full deposit is tough—especially with rent, groceries, and life in general. Some programs let you buy with just 5% down and still dodge lender’s mortgage insurance. That’s a big win. 3. Stamp Duty Exemptions Stamp duty can be a nasty surprise if you’re not prepared. Luckily, many states offer discounts or full exemptions for first home buyers. That alone can save you thousands. 4. Shared Ownership This one’s more niche, but pretty clever. You buy part of a property and a government or other party buys the rest. Over time, you can buy out their share. Great if your budget’s tight but your long-term outlook is solid. 5. Special Deals from Lenders Some banks roll out the red carpet for first-time buyers with lower rates or fewer fees. These deals come and go, so it's worth shopping around. Where the Real Savings Kick In You might be thinking, "That’s great, but how much will I actually save?" Fair question. While it depends on your situation, the savings can be pretty serious. Skipping stamp duty, avoiding insurance fees, getting help with your deposit, it all adds up. These aren’t minor discounts; we’re talking about costs that could make or break your ability to buy. On top of that, being able to buy sooner means you stop renting sooner, and start building equity instead of paying someone else's mortgage. Let’s Talk About Rates We can’t ignore the loan itself. Finding the best home loan rates for first home buyers is just as crucial as grabbing those scheme benefits. A lower interest rate doesn’t just save you money month-to-month—it shaves years off your mortgage. At Loan Easy, we don’t just throw numbers at you. We look at your whole picture - income, lifestyle, future goals and help you compare options that actually fit your needs. Because the “best” loan isn’t just the lowest rate. It’s the one that helps you sleep at night. Not Sure Where to Begin? It’s alright. Most people aren’t. Here’s a simple way to get started: ●    Find out what’s on offer where you live. ●    Do a quick budget check—what can you comfortably afford? ●    Reach out to someone who knows the system (hint: that’s us). Seriously, don’t try to do this alone. There’s no gold star for figuring it all out without help. Conclusion Buying your first home is a big step, but it doesn’t have to feel impossible. Between the various first home buyer loan schemes and the hunt for the best home loan rates for first home buyers, there are real ways to make this process smoother—and more affordable. If you're ready to make moves, we’re ready to help. No jargon, no pressure. Just solid advice, tailored to you. Let’s make this happen. Visit Loan Easy and take that first step toward getting your keys.

[multiowner0]

Rent vs. Buy: Which Is Right for You?

One of the biggest financial decisions people face is whether to rent or buy a home. Both options have their pros and cons, and the right choice really depends on your lifestyle, finances, and long-term goals. In this article, we’ll break down the key factors to help you decide what’s best for you.

Renting: Flexibility and Lower Upfront Costs

Renting is often seen as the easier option, especially for people who are just starting out, moving to a new city, or not ready to settle down.

Pros of Renting:

Lower Upfront Costs: Renting typically requires a security deposit and first month’s rent. That’s much cheaper compared to a home down payment, which is usually thousands of dollars.

Flexibility: Leases usually run for 6–12 months, giving you the freedom to move if your job or life situation changes.

No Maintenance Costs: If something breaks, the landlord usually handles it. That can save you time, money, and stress.

Access to Amenities: Many rental properties come with extras like pools, gyms, or security services—without the extra cost or hassle.

Cons of Renting:

No Equity: Your monthly rent payments go to the landlord—not towards building any personal wealth.

Limited Control: You may not be able to decorate or renovate your space the way you want. You’re also subject to lease terms and possible rent increases.

No Tax Benefits: Unlike homeowners, renters don’t get tax deductions on mortgage interest or property taxes.

Buying: Stability and Long-Term Investment

Buying a home is a major commitment, but it can offer financial and emotional rewards over time.

Pros of Buying:

Building Equity: Every mortgage payment brings you closer to owning your home outright. That’s a form of forced savings.

Stability: Owning your home means you don’t have to worry about rent increases or being forced to move.

Freedom to Customize: You can renovate, decorate, and truly make the space your own.

Potential Tax Benefits: Homeowners can often deduct mortgage interest and property taxes, which can lower your tax bill.

Cons of Buying:

Higher Upfront Costs: Down payments, closing costs, and moving expenses add up quickly.

Responsibility: You're in charge of all maintenance and repairs, from leaky faucets to roof replacements.

Less Flexibility: Selling a home takes time and may come with extra costs. If you need to move suddenly, it can be a challenge.

Market Risks: Home values can rise or fall, and a downturn in the market can reduce your home's value.

So, Which Is Right for You?

Ask yourself a few questions to find your answer:

How long do you plan to stay? If you're going to be in the same place for at least 5 years, buying might make sense. If not, renting offers more flexibility.

What's your financial situation? Can you afford a down payment, property taxes, and home maintenance? If not, renting might be the safer choice for now.

Do you want flexibility or stability? Renting offers more freedom to move. Buying gives you a long-term place to call home.

How important is ownership to you? Some people feel more secure owning their home, while others prefer not being tied down.

Final Thoughts

There’s no one-size-fits-all answer to the rent vs. buy debate. What’s right for someone else might not be right for you. It’s important to look at your personal and financial situation, weigh the pros and cons, and decide what will make you feel most comfortable and secure. Whether you rent or buy, the most important thing is that it fits your life and your goals.

[immortalcatalystrune]

How to Calculate Your Borrowing Power for a Home Loan in Mandurah

When it comes to purchasing a home, understanding your borrowing power is crucial. This knowledge can shape your home buying experience, especially for those looking at properties in Mandurah, a beautiful coastal city in Western Australia. In this comprehensive guide, we'll delve into the nitty-gritty of calculating your borrowing power, ensuring that you're well-prepared as you embark on this exciting journey.

Table of Contents

Understanding Borrowing Power What is Borrowing Power? Why is Borrowing Power Important? Factors Affecting Your Borrowing Power Income and Employment Status Credit History and Credit Score Expenses and Liabilities Deposit Amount How Lenders Assess Your Borrowing Power The Role of Lenders Debt-to-Income Ratio Explained Interest Rates and Their Impact Calculating Your Borrowing Power How to Calculate Your Borrowing Power for a Home Loan in Mandurah Tools and Calculators Available Preparing Financial Documents https://jsbin.com/xajeceliyo Required Documentation Organizing Your Financial Information Getting Pre-Approved for a Home Loan What is Pre-Approval? Benefits of Getting Pre-Approved Common Mistakes to Avoid When Calculating Borrowing Power Underestimating Expenses Ignoring Future Financial Changes Exploring Home Loan Options in Mandurah Types of Home Loans Available Choosing the Right Lender Government Assistance Programs for First-Time Buyers First Home Owner Grant (FHOG) Other Financial Aid Options

The Importance of Professional Advice

Consulting Mortgage Brokers vs Direct Lenders Understanding Market Conditions

Frequently Asked Questions (FAQs)

How do I improve my borrowing power? Can I calculate my borrowing power without a financial advisor? What if I'm self-employed? Does my credit score affect my borrowing power? How much deposit do I need to secure a loan? Can I borrow more than my calculated borrowing power?

Conclusion

Understanding Borrowing Power What is Borrowing Power?

Borrowing power refers to the maximum amount of money that lenders are willing to provide you for a loan based on your financial situation, including income, expenses, credit history, and overall financial health.

Why is Borrowing Power Important?

Knowing your borrowing power allows you to set realistic expectations when searching for properties in Mandurah or any other location. It helps you avoid disappointment by focusing on homes within your financial reach.

Factors Affecting Your Borrowing Power Income and Employment Status

Your employment stability pla

[jlegal]

Rebuilding Credit After Bankruptcy in California: A Step-by-Step Guide to Financial Recovery

By James L. Arrasmith, Esq. Owner and Chief Legal Counsel, The Law Offices of James L. Arrasmith 🔗 Take your next step with us at JLegal.org

Introduction: Life After Bankruptcy Is Just the Beginning

Bankruptcy offers more than just relief—it offers a clean financial slate. But once the discharge papers are in your hands, what’s next?

Many people assume that bankruptcy ruins their credit for life. In truth, a well-executed recovery plan can restore your credit faster than you might think. Within 18–24 months, many of our clients qualify for car loans, credit cards, and even home mortgages.

This article outlines exactly how to rebuild your credit after Chapter 7 or Chapter 13 bankruptcy in California—and how to avoid the pitfalls that could drag you back into financial trouble.

How Bankruptcy Affects Your Credit Report

✅ Chapter 7

Stays on your credit report for 10 years from the filing date

Most debts are eliminated in 3–5 months

✅ Chapter 13

Stays on your credit report for 7 years from the filing date

Debts are repaid partially over 3–5 years

🧠 BUT:

Your credit score—the actual number used by lenders—can rebound much faster. Many clients see improvements within 6–12 months of discharge, and significant gains within 2 years.

Step 1: Check Your Credit Report Immediately

Start your post-bankruptcy recovery by requesting your free credit reports from:

AnnualCreditReport.com

Experian

Equifax

TransUnion

📌 Check that all discharged debts show a $0 balance and are marked “included in bankruptcy.”

If any accounts are misreported:

File a dispute with the credit bureau

Provide a copy of your discharge order

Contact our office for guidance on correcting inaccuracies

Step 2: Create a Budget That Reflects Your New Financial Reality

A fresh start is meaningless without a budget. Use your post-bankruptcy momentum to create a sustainable monthly plan.

✅ Include:

Emergency fund savings

Minimum and full payments for all open accounts

Housing, utilities, food, and insurance

Sinking funds for future expenses (e.g., car repairs)

Avoid using more than 30% of your available credit—this is one of the biggest factors affecting your FICO score.

Step 3: Re-Establish Credit Responsibly

➤ Get a Secured Credit Card

This is your gateway to rebuilding credit. A secured credit card requires a deposit (usually $200–$500) which acts as your limit.

Use it for small, budgeted purchases (like gas or groceries)

Pay it off in full each month

Never max it out

Within 6–12 months of on-time payments, your score will improve, and you may qualify for unsecured cards.

➤ Become an Authorized User

Ask a trusted family member to add you to their credit card. You don’t even need to use the card—their positive payment history helps your score.

➤ Take Out a Credit Builder Loan

These small loans (often from credit unions) are designed to build credit. You make monthly payments into a locked account and receive the funds at the end of the term.

Step 4: Be Strategic About New Credit

After bankruptcy, it’s tempting to avoid credit altogether. But building your score means showing lenders you can borrow and repay responsibly.

Use these guidelines: ActionRecommended After Bankruptcy?NotesSecured credit cards✅ YesBest first step toward recoveryDepartment store cards✅ With cautionOften easier to obtain, but high interestPersonal loans⚠️ MaybeUse only for emergencies or credit-buildingCo-signed auto loans⚠️ RiskyCan impact your co-signer if you defaultPayday loans❌ NeverPredatory terms and high default risk

Step 5: Monitor Your Progress

Use tools like:

Credit Karma (free access to TransUnion and Equifax)

MyFICO for FICO scores used by lenders

Experian Boost to get credit for on-time utility payments

📅 Set a reminder to check your credit monthly. This helps you catch errors and track improvement over time.

Step 6: Avoid New Traps

Rebuilding after bankruptcy requires diligence. Watch out for:

❌ Predatory Lenders

“Bad credit okay!” often means high interest and hidden fees.

❌ Cosigning Loans

If the borrower defaults, you are responsible—and your credit will suffer.

❌ Applying for Too Much Credit

Each hard inquiry reduces your score slightly. Space out applications and stick to essentials.

Step 7: Rebuild Your Emergency Fund

Bankruptcy can eliminate debt—but it can’t protect you from future emergencies.

Aim for:

$500–$1,000 initially (emergency starter fund)

3–6 months of expenses long-term

Set up automatic transfers to a high-yield savings account.

Real-Life Recovery: Client Stories

🎯 Chapter 7 Success

A Bay Area client discharged $89,000 in unsecured debt. Within 18 months, their credit score climbed from 512 to 684. They bought a car at a fair rate and started saving for a home.

🎯 Chapter 13 Gradual Rebuild

A single parent completed their 5-year Chapter 13 plan. With three new credit lines, a refinance, and positive rental history, their score reached 710 within two years post-discharge.

Bankruptcy & Homeownership: Can You Buy a House Again?

Yes, but timing matters: Loan Type: FHA Loan Post-Bankruptcy Wait Period: 2 years after Chapter 7 discharge

Loan Type: VA Loan Post-Bankruptcy Wait Period: 2 years after Chapter 7 discharge

Loan Type: Conventional Loan Post-Bankruptcy Wait Period: 4 years after Chapter 7 discharge

Loan Type: Chapter 13 (completed) Post-Bankruptcy Wait Period: 2 years from discharge

Loan Type: Chapter 13 (in progress) Post-Bankruptcy Wait Period: May qualify with 12+ months of on-time payments

📌 We can help you prepare loan applications and offer lender referrals. 🔗 Ask about home loan recovery timelines at JLegal.org

Frequently Asked Questions

Q: Can I get a car loan after bankruptcy? A: Yes. Many lenders work with post-bankruptcy clients. Rates may be higher initially but improve with time and good payment history.

Q: Will I have trouble renting an apartment? A: Some landlords screen for bankruptcy. A strong application (steady income, cosigner, references) often helps offset concerns.

Q: Can I apply for new credit cards right away? A: It’s best to start with a secured card. Wait 6–12 months before applying for unsecured credit.

Q: Will my job find out I filed for bankruptcy? A: Generally, no. Bankruptcy is public record, but most employers won’t find out unless they run a credit check.

How The Law Offices of James L. Arrasmith Supports Clients After Discharge

Our service doesn’t end when your bankruptcy case closes. We offer:

Credit report reviews post-discharge

Guidance on secured cards and loan options

Strategic coaching for homeownership and financial planning

Business reorganization and incorporation post-bankruptcy

Help addressing errors on credit reports

📞 Let us guide your full financial recovery. 🔗 Schedule a follow-up consultation at JLegal.org

Related Articles:

👉 Chapter 13 Bankruptcy in California: Protect Your Assets and Repay Debts

👉 Bankruptcy in California: A Strategic Path to Financial Renewal

👉 California Estate Planning and Wealth Protection Services

Final Word

Bankruptcy is the beginning of a new chapter—not the end of your financial story. With patience, smart credit use, and the right support system, you can rebuild stronger than ever.

🌐 Explore your next steps at www.jlegal.org

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A Complete Guide for First Home Buyers in Australia – Powered by Triple M Finance

Buying your first home is a major milestone—and for many, it's the biggest financial decision they’ll ever make. At Triple M Finance, we specialise in helping first home buyers in Australia understand the ins and outs of the property market, so they can buy with confidence. Based in Round Corner NSW 2158, we’re proud to support locals and buyers across the country with expert mortgage advice and personal service.

Understanding the Market for First Home Buyers in Australia

The property market in Australia can be competitive and fast-moving, especially in major cities and growing suburbs. For first home buyers Australia, getting a clear understanding of your borrowing power, the costs involved, and available government assistance can make a significant difference in your home ownership journey.

Whether you’re buying a brand-new build or an established property, Triple M Finance is here to help you make informed decisions at every step—from loan pre-approval to settlement.

Government Support for First Home Buyers in Australia

One of the advantages for first home buyers in Australia is access to various government schemes and grants. These include:

First Home Owner Grant (FHOG) – A one-time payment to help eligible buyers purchase or build their first home.

First Home Guarantee – Allows eligible buyers to purchase a home with as little as a 5% deposit, without paying lenders mortgage insurance.

Stamp duty concessions – In many states, first-time buyers may be eligible for discounts or exemptions on stamp duty.

Our team at Triple M Finance can assess your eligibility and help you apply for these benefits, ensuring you make the most of every opportunity.

Financing Options for First Home Buyers

There are many home loan products available, and choosing the right one can be overwhelming. We work with a wide range of lenders to find a home loan tailored to your needs—whether you prefer a fixed rate, variable rate, or even a split loan. We explain all your options clearly so you feel confident about your financial commitments.

Local Expertise You Can Trust

As trusted mortgage brokers in Round Corner NSW 2158, we have in-depth knowledge of the local property landscape. We’ve helped many families and individuals across New South Wales get their foot on the property ladder. For first home buyers Australia, having local insight and personalised support can be a game-changer in a competitive housing market.

Why Choose Triple M Finance?

Access to leading lenders and competitive rates

Deep understanding of government schemes for first home buyers

Personalised service from a team that cares about your goals

Local support in Round Corner NSW 2158 and nationwide

Start Your Home Ownership Journey Today

Don’t let uncertainty hold you back. With expert guidance and the right financial support, you can make your dream of home ownership a reality. For personalised advice and proven support for first home buyers Australia, contact Triple M Finance on 0422 331 130 today.