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Forclosure after Ch7

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    #1

    Forclosure after Ch7

    I filed for chapter 7 and it was discharged 5-2-07. I was never behind on my mortage payment before and it was included in the BK and I DID NOT sign a reaffirmation agreement.
    I have searched and found conflicting information everywhere and I just want to try and get a definitive answer from someone who has gone throughit. If I walk away from the house will it show up on my credit as a forclosure? If it does can I dispute it saying it was IIB? I have built my credit back up to the high 680's since the BK and I dont want to lower it further.
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    #2
    When the debt is included and not reaffirmed, it should be listed as IIB. The foreclosure would show up along with the BK if the foreclosure happened before you filed or after you reaffirmed the loan.
    Bankruptcy History:
    Chapter 7 filed - 10/12/2005 - Asset
    Discharged - 02/16/2006
    Case Closed - 11/08/2007

    A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain

    All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation.

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      #3
      Originally posted by BassBoy View Post
      When the debt is included and not reaffirmed, it should be listed as IIB. The foreclosure would show up along with the BK if the foreclosure happened before you filed or after you reaffirmed the loan.
      The debt is listed as IIB on my credit. My question is if I walk away from the house now will the forclosuer be on my credit.

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