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Life After Bankruptcy
My name is Barbara Martin and in February 2010 my husband and I found ourselves caught up in the Housing Crash Nightmare and was forced to file bankruptcy. Throughout my life I had been told that you couldn't go wrong with Real Estate! Unfortunately my husband and I invested everything we had into our home believing that it would only increase the value of our investment. The normal waiting time for purchasing a home after a bankruptcy is 3 years. Our bankruptcy lawyer FAILED to file a Deed in Lieu of Foreclosure that was going to force us to wait 6 years. Through computer research for "Buying a house after Bankruptcy"; I met Gustan Cho  and learned through him about some laws changing, now making it possible for me to purchase a home. If by chance you come to place in your life where you are forced to file bankruptcy, select your lawyer very carefully and interview them just as if you were hiring a new employee.

The most spectacular thing happened on September 25, 2014. Out of the blue, Gustan Cho called me to tell me he had fantastic news for me and my husband Charles. We can now buy a home instead of waiting till September 2015. But that wasn't all, he hired me to work for him! I now have my NMSL # and have sent off the emails that Gus had coached me through and will be studying to become a Licensed Mortgage Loan Originator. I am so excited about this new chapter in my life and love the idea of being able to work from home or take my work with me wherever I go. A Laptop, a cell phone and a charger and I'm good to go! I AM OVER THE MOON!

Please feel free to look me up on Facebook under Barbara Palmer Martin and send me a friend request.
Welcome aboard, Barbara,

I remember you and Charles very well when you first called me last year and thought about you guys throughout the year It is such a shame that many hard working folks who had a foreclosure as part of their bankruptcy cannot still to this day qualify for a mortgage because federal mortgage lending guidelines state that the foreclosure waiting time clock does not start until the deed of the foreclosed home is transferred out of the homeowners name into the lenders name. Mortgage lenders that foreclosed on the homeowner's home are in no hurry to transfer the deed out of the owners name and into their names. Fortunately, new Fannie Mae guidelines came into effect last month where now if a person has a foreclosure as part of their bankruptcy, they can qualify for a conventional loan four years after the bankruptcy discharge date with 5% down payment. The home buyer needs re-established credit and no late payment history after the bankruptcy and a 5% down payment. Here is an article on foreclosure as part of bankruptcy to qualify for a conventional mortgage loan:


I am so excited to have you as a part of our team. Gus is so supportive and very knowledgable. I am so happy for you that finally you got your home back.


There are periods of good times and bad times in life. All of my adult working life, I have always believed in giving to the less fortunate and helping others . I try to always set aside a portion of my earnings to give back to society and my community. I have always donated to charity anonymously and will always continue to do so. By the way, here is an article that was published on The Daily Herald that the story leaked out about me giving donation to the Village of Barrington Hills


Life after bankruptcy should be a great relief due to the fact that you no longer owe any debts and have a fresh start on your life. No worries about debt collectors calling you,  no need of worrying about getting served for a potential judgment and no need of a judgment creditor garnishing your wages and enforcement of judgment.

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