Florida Property surrendered in Chapter 7

[heyu]

In this scenario will I have both a bankruptcy and a foreclosure listed on my credit.

[JRScott]

If the property is surrendered as part of the bankruptcy it will only show as IIB.

If however it goes to foreclosure before the bk filing, it would show foreclosure and IIB.

[BROKENN]

This is interesting to me also. Does it look worse to have both?

Does the whole foreclosure process have to be done before BK to list it?

Or is Demand for Payment enough to show it?
Thanks

[JRScott]

Yes having both is worse than having one.

No the foreclosure process does not need to be complete to list it in the BK.

So long as its a verifiable debt its listed ;)

[BROKENN]

A little tired, but still trying to understand

I got a Demand for Payment because we didn't pay our mortgage for two months then we filed. The Stay kicked in and I don't know if it went to foreclosure then. I looked up foreclosure and pre foreclosure listings and it wasn't there yet.

Then my mtg co turned in a Relief of Stay. I learned here that they had to, in order to get the house back as I am surrendering it.

Would that be a foreclosure on my report?

[JRScott]

No I don't think a Demand for Payment is same as foreclosure, however it will have a ding on your credit report for each missed payment before filing.

[BROKENN]

Thanks JR Understanding it helps!