Filing before foreclosure & credit report results

[jimbo367]

we're behind 10 months waiting to be served with a foreclosure, here in NY I know it will take about 3 years to lose the house.

If a 7 is filed now what happens to the credit report when the lis pendens and later on the foreclosure occurs.

Will it appear or since its discharged not appear?

[btbeme]

If it appears as a foreclosure on your credit report, you can get it re-entered correctly as Included in Bankruptcy.

As an FYI, however, the home title will be recorded as foreclosed, so if you make a later purchase of a home, the foreclosure will show up. That could derail a future mortgage if you don't list the foreclosure on your application.