Walking out on a non-reaffirmed house

[JasonK94Z]

In our BK 7, Countrywide did not sign and return the reaffirmation agreement. Not surprising. But I have a question, and a possible scenario that may play out:

I am going on a job interview soon in another state. It has the potentioal to pay me almost $20k more per year. Our house is valued to where we would break even or be slightly upside down if sold. But houses around here are not selling at all.

If we move: can I walk out, stop paying, and not have foreclosure reported to my credit? They still report positive on my credit so far.
They chose not to reaffirm. Therefore I am scott free right?

The reason i ask about the foreclosure is that if that is reported to credit its 3 yrs before FHA will give you a mortgage right? If just a BK7, then its 2 yrs from file date or discharge date?

Thanks for the help.

[emoney]

You will end up better if you sell your house yourself. If you have a loss them can you make up the difference or will CW do a "short sale" for you? This way you are doing the best for yourself and even CW.
regards,
emoney

[sharksfan]

Once the foreclosure process is completed all CW can report is IIB. Yes, a foreclosure did take place in a legal sense, however it isn't your foreclosure.

[JasonK94Z]

Once the foreclosure process is completed all CW can report is IIB. Yes, a foreclosure did take place in a legal sense, however it isn't your foreclosure.

Bingo! Just what I needed to here.

[sharksfan]

Bingo! Just what I needed to here.

Be prepared to dispute if the CRAs report anything other than IIB.

[yeahdischarged]

Update

[Teddy]

Who is your lender? Do you mind saying?

[InSeriousDebt77]

Anyone out there know why a lender would refuse to reaffirm? I would think that since reaffirmation is in the lenders best interest, they would jump at the opportunity to sign

[yeahdischarged]

Update