Foreclosure, BK and credit

[akame5150]

I posted a similar thread in another forum, however I have not received any responses so I don't know if I messed up and put it in the right place. Therefore I will try here

I have recently discharged and closed on a chapter 7 BK. I am surrendering two rental houses in the BK. The lenders are just starting their foreclosure process. I understand I am not responsible for any money or tax consequences as a result, however what I am not sure on is the how the foreclosure affects my credit.

Is the foreclosure just a normal foreclosure that shows up and devastates my credit even more? Or is reported as included in bankruptcy so the only real problem on my credit is the BK?

I don't want my BK plus two separate foreclosures on my credit as I don't see recovering from that anytime soon. I am truly hoping the foreclosures are part of the BK and show up as included in BK.

Thanks much.

[StartingOver08]

The foreclosures do not show up on your credit if reported properly because you have already surrendered the homes in BK. What is supposed to show for each of the mortgages is iib and zero balance. iib = included in bankruptcy. If anything else shows on your CR, you go thru the normal correction procedures.

[akame5150]

StartingOver,

Thank you very much for taking the time to answer my question. I really appreciate it.

That makes me feel much better,