please read !!

[RainMoM]

As some of you already know, from my recent post.. My lender, has served me an summons to let me know that they are going forward with the forclosure.. My question is, after this is all said an done, will this show up on my credit report ? Meaning will it show up as I haven't been paying on the house all along or will it say it was IIB ?

[RainMoM]

Was I not clear enough on this matter ?? if so, please let me know so i can give more details of what I'm asking .. Thank you

[Meatstick]

Was I not clear enough on this matter ?? if so, please let me know so i can give more details of what I'm asking .. Thank you

It should already be showing as IIB if you included it in your Ch7. The only thing that will change is there will be a foreclosure listed under public records which will also show on your credit reports.

[AngelinaCatHub]

RainMom, it never ceases to amaze me that when a person has gone down to the point of bk7, that they are worried about a credit rating.

We lost essentially ten million. We were beat by a bad person with serial suits that went nowhere but cost us tens of thousands. We paid off 30K CC's with a single check. We had a credit rating of 820.

Then with loss of career jobs due to above the big "C" and medical expense without insurances.


Did we make a bad decisions leading up to our bk? Of course we did. That is why we have never looked at our credit score, we do not have credit cards and do not wish to use credit again. We have learned. What got most of us here? EASY CREDIT. TOO EASY.

As far as a credit rating, in this day and time, it is becoming more insignificant daily as those who come here can attest to.

We have found out, that living a bit more frugal, being bill less, (except normal utilities) have proven to be a very rewarding experience.

We also will not renew spent checks. We do have a debit card that stops working if funds are not available.

We have never been happier with what we have learned and the values we have understood. Things are worthless. Essential items will be provided if "Things" are not substituted for them. 'Hub

[DebtEnder]

It will not cause any change to your credit report as far as points go of any record in that regard. However you will not be able to get FHA mortgage backed loans for 3 years from date of foreclosure due to separate , non credit, reporting. Conventional loans are 4 years. Depending on location and income USDA loans may be an option within mere months however

[RainMoM]

Thank you, for your reply ! Let me make myself VERY clear here, I have No intentions of getting back into any debt what so ever ! I don't need credit cards to make my life complete, as long as I have my family and good health, that's all i need !! I do have a debit card, but it comes out of my checking account.. that's it.. and my only reason for having that is so I don't have to go inside the store to pay for my gas and leave my kids in the car .. sounds silly i know, it is what it is ..lol Reason i did ask if it'll hurt my credit score, is that one day, someday, just NOT today, i'd like to buy a home again.. I have learned from my mistakes about how to manage my money, little that I have at the end of the day, but in time I see myself moving forward from all of this !

AngelinceCat.. I hope everything has worked out for you, Are you ok now ? best wishes to you and your wife !! May you be "C" free