questions

[worried]

If my chap 13 was closed Oct 1st and a judgement was entered for foreclosure on Oct 23 does this mean the foreclosure should show included in bankruptcy on my credit report. My payments were being paid outside the plan but it was the main reason I filed chap 13 in the first place but I fell behind a year before it closed. And also if I wanted to walk away from all this and start building my credit how long do I have to wait to buy another house. I hear 2 years for FHA loan. And then I also heard one year with no late payments for other loans. And I also heard if you are in a chap 13 you can refinance after a year with no late payments. So anyways would that be 2 years from the judgement date or from the sheriffs sale. What if they never sell it? Sorry so long. I'm trying to figure what to do.

[worried]

oh i forgot to mention I also had a judgement for a credit card for 2000 that was also included in my chap 13. Now how is that supposed to show on the credit report. Because they are listed on the foreclosure papers and I wonder why. Is that judgement still active. Shouldn't it be removed and included in the bankruptcy?

[lrprn]

If my chap 13 was closed Oct 1st and a judgement was entered for foreclosure on Oct 23 does this mean the foreclosure should show included in bankruptcy on my credit report.

Since the foreclosure happened after your Ch 13 closed, it will show up as a foreclosure and as a separate line item on your credit reports.

I hear 2 years for FHA loan.

That's what our resident real estate experts say.

So anyways would that be 2 years from the judgement date or from the sheriffs sale. What if they never sell it? Sorry so long. I'm trying to figure what to do.

Sorry - I don't understand what you are asking here. Is it about your foreclosure?

[lrprn]

Shouldn't it be removed and included in the bankruptcy?

Bankruptcy wipes out the debt but not the lien. You have to petition the court for that to be removed.

See http://moranlaw.net/lawsuits.htm for more detailed information about bk and judgments.

[worried]

When does FHA consider 2 years from date of foreclosure judgement or when they sell the house because what if the house doesn't sell. My house has been on the market already for 10 months and lots of people looking but not buying.

[worried]

I forgot one more thing. I can file another chap 13 to save the house. So will this be two chap 13 and one foreclosure on credit report.

[CindyLou]

For an FHA loan a foreclosure creates a 3 year waiting period.

[CindyLou]

oh i forgot to mention I also had a judgement for a credit card for 2000 that was also included in my chap 13. Now how is that supposed to show on the credit report. Because they are listed on the foreclosure papers and I wonder why. Is that judgement still active. Shouldn't it be removed and included in the bankruptcy?

You have to go to the court and request that the judgement be vacated seperate from the BK. The bk gets rid of the debt related to the judgement but does not get rid of the actual judgement. This has to be done seperately.

[worried]

If I just got a foreclosure judgement would i be able to do a workout agreement even if I already went chap 13 bankruptcy on the mortgage company in 2003. I am now discharged from that. I mean instead of filing a second chap 13 would they consider a mortage workout agreement maybe a mortgage modification.