Did Dave Ramsey Borrow Money After Bankruptcy? YES, in 1996.
According to tax records, on July 18, 1996, David L Ramsey III purchased a 3,776-sf home at 8103 Victory Trail in Brentwood, TN for $353,000. On July 31, 1996, First American National Bank issued David and Sharon Ramsey a 15-year Adjustable Rate Mortgage at 7.95% for $210,000.
This is over seven years and ten months after Dave's September 1988 bankruptcy and four years after the July 2, 1992 publishing of his book "Financial Peace".
While it does appear Dave purchased the house with cash, he then turned around days later and secured a note for 59.49% of the purchase price.
By all means, a conservative home purchase, however, I wouldn't say the montra that he "never borrowed money again" after filing bankruptcy is exactly factual.
- Link to Deed of Trust
- Link to Warranty Deed
- Link to House (Dave still owns under: More Rare Air, LLC)
