Recreational Land Purchase after Chapter 7

[onthefence]

Hello all,

DH and I are thinking about purchasing some land for recreational use. It is listed for 27K. Our CH 7 discharge date was 12/28/10. I called our CU and they won't do land mortgages for less than 40K, plus they said they would need to wait 4 years post discharge. I know that all lenders will vary but I had thought it would only be 2 years, so I was kind of surprised.

Does anyone here have experience buying land post bk? I think I will try a few other lenders to feel them out. Any insight would be appreciated.

Thanks!

[goon]

I don't have any direct experience with buying land post BK (I am still in a CH13 myself)...
But here is something to look into, it seems that often with land sales like that that the seller is willing to carry the loan (at least for a period of time).
Something to look into at least as if they are willing to carry they have a vested interest in giving you the loan (as it gets their property sold)