HI, I was wondering how long after the relief of stay is granted and forclosure starts,do we have before it hits our credit, we want to find a place to rentand don't want the forclosure on our credit stopping us,thanks
-
-
In the US one of the three major credit reporting agencies has the primary job of reporting legal issues to the remaing other two agencies.
From my experience it will be a matter of days before the three CRA have your BK in their files. Most CC update their files monthly from the CRS.
regards,
emoney -
When we went thru Foreclosure last year, it never showed on our Credit Reports.
I'm guessing, the Foreclosure will not show until after the actual Sale is held.
Even at that, it may take the Credit Bureaus a month or 2 to post it on your Credit Reports.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...Comment
-
I had my second file for foreclosure. We got caught up with them the next week and they withdrew the case.
It never showed Foreclosure on our report, of course I was told by a friend of mine who is a mortgage broker that after you hit 90 days late it is considered the same thing by the banks he deals with.Filed Chapter 13: 3/12/07
Confirmed 5/14/07
Last day from Claims 7/10/07
Trying to stay under the radar
Comment
Comment