Will BAC Report Payments on CH 7 Discharged/ Non-Reaffirmed Mortgage?

[robin420]

Hello everyone - This is my first post - I'm looking for information and personal experience regarding Credit Reporting for CH 7 Discharged/Non-ReAffirmed Mortgages with BAC.

My info:
STATE: RI
CH 7 FILED: 9/30/2010
341 DATE: 11/1/2010
Deadline: 12/31/2010
DISCHARGE: JAN 2011 (hopefully)

I did not reaffirm the mortgage and I have been current on the payments thru 11/2010 however I am going to try to short-sell and I wanted to know if its OK to be late (or not pay at all!) after the Discharge is granted.

Since I would like to buy another home at some point down the road I really don't want any "lates" on my credit after the Discharge. I know a Short Sale will also knock my credit down but I'm trying not to add insult to injury by becomming a "triple threat" with BK / LATES / SHORT SALE!!

My question is: Will BAC continue to report my payments (whether on-time or late) to the credit agencies after the CH 7 Discharge?

I have heard that some banks do continue reporting on non-reaffirmed mortgages and some don't and I'd like to hear from people with BAC mortgages that were Discharged/ Non-Reaffirmed.

Also, if BAC stopped reporting your payments, did they stop after the filing date or after the Discharge date?

I'm just trying to "do the right thing" here and any comments are welcome!! Thank You!!

[brokeinTN95]

We had our mortgage thru BofA and they did not report the payments after we received our discharge. Also we are in the process of selling the home ourselves for the balance of the mortgage and not doing a short sale and hope that will look good on our part when the time comes for us to buy another house. I think we will be able to in Nov 2011. that will be 2 years from discharge since we will not have a foreclosure on our part. Good Luck!!!

[robin420]

Thank you so much for that infomation - I called Experian on Monday and they said the same thing - once the mortgage is discharged there won't be any more payments reported whether on time or late so that's good to know - takes the pressure off!! I had heard that some banks still continue reporting after the discharge. I'm currently 1 year into a 5 year mod I got back in 2009 so I don't know if BAC will be willing to work with me for the short sale but I'm going to try to avoid foreclosure because like you I'd like to buy another house someday - good luck with your sale - I hope you get your price and move on to your next venture!!

[dneil]

According to my attorney (who specializes in bankruptcy only) he said that after a year you can request that the mortgage company report to the credit agencies that you are current, or paying as agreed.

[robin420]

Thank you for the info dneil - if I'm still current in a year I'll consider that!!

[indeep59]

Mine ARE being reported as on time, 6 months after discharge bk7 with BAC, no reaffirmation. They also wiped out all late/missed payments previous to filing bk.

[robin420]

Thank you for that info indeep59 - I'm awaiting my discharge then I'll check my credit report to see if BAC is reporting my payments - good luck to you!!

[dspii]

It sounds like reporting to the credit agencies is a hit or miss....I have been discharged over a year and BAC does not report mine. As far as a short sale, here is what I learned, according to FHA guidelines. If you are delinquent on your mortgage payment and do a short sale you have to wait 2-3 years before you qualify for FHA. If you are current and do a short sale, you are immediately qualified, albeit once your BK goes through the 2 year wait.