This has been probably asked before so I apologize but I was curious about something.... so I filled for BK in 10/08 and it was discharged on 1/09. I included my house in the bk and did not reaffirm. I received a Summary to Forclose notice from a process server.... so my question is once the house is repocessed by the bank, does a "Foreclosure" go on my credit even tho I included this debt in my bankruptcy? wasnt sure how that worked, thanks.
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Your house was included in your BK and should be listed as such on your credit reports; however, it will not list that way in the public records and will show as a foreclosure and is information easily obtainable by any future mortgage lender or via a title search._________________________________________
Filed 5 Year Chapter 13: April 2002
Early Buy-Out: April 2006
Discharge: August 2006
"A credit card is a snake in your pocket" -
We were discharged March of '08. Our house went back to the bank October '08. As of today, July 2009, we have no mention of foreclosure on our credit report, including in the public records section. That isn't to say that if we attempted to get a mortgage it wouldn't show up, though.11/29/2007 - Filed Ch 7
01/08/2008 - 341 Hearing
03/12/2008 - Discharged
03/21/2008 - Closed
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Well the deal is if it does not show up in the credit it will most likely show up in other places that any lender can check so be prepared to show proof of status of the home.
The reason why i know this is because for 5 years thats all that i have done is FHA after BK. I would suggest to talk to a mortgage broker or lender who understands BK borrowers. If you get the wrong one they can give you bad information because they are not experienced with changing guidelines for FHA financing.Comment
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