Foreclosure after discharge question

[ezgo68]

We filed chapter 7 and was discharged in July 2007. We didn't reafirm the house but stayed in it for 3 more months. Finally decided we couldn't afford it and walked away. It was foreclosed this month. Will the foreclosure be on my credit report even though the mortgage was discharged in the chapter 7?

[lrprn]

Yes, the foreclosure will show on your credit record but with the bankrutpcy filing and the foreclosure so close together, they will be considered by most creditors as a single event, not separate events.

[Boscoe]

But lrprn, if the house is included in the bk and then is foreclosed later, it does NOT appear again on the credit report, right? Just once as "IIB"?

[RickInMich]

This question gets asked many times, and there are so many varying opinions. ezgo68, will you please keep us updated as to what happens to your credit report. Posters in another thread swear it will not appear on your credit report since it was included in the bankruptcy. They said it only shows on your report if you affirmed and then let it go into bankruptcy.

I'm inclined to believe lrprn on this one. I believe it will be reported. I just hope I'm wrong.

[ezgo68]

I will let you know if it shows up on my credit report. How long after foreclosure does it take to be listed on my credit report? I have allready got my free reports for this year.

[sharksfan]

The foreclosure should show on your credit report ALONG WITH the bankruptcy. Bankruptcy discharges debts, but it does NOT wipe away leins.