If trustee sells house, is that a foreclosure?

[dmu]

I have a question regarding surrendering property.

If you have equity in a property and you voluntarily surrender it to the trustee in Chp. 7, is this considered the same as a foreclosure. If not, how is this reflected on your credit report?

[HHM]

No, if the trustee sells your home, that is not a foreclosure.

[dmu]

Follow Up

No, if the trustee sells your home, that is not a foreclosure.

Thank you HHM, I have a follow up question. If/when the trustee accepts the surrendered property would my husband and I be officially rid of it? For instance, can any difficulty the trustee may face in trying to sell the house hold up the discharge or closing of our case?

[JackBondLove]

I think if you get discharged in Chapter 7, a foreclosure does not matter.