ch 7/foreclosure and credit reporting

[Karbear]

Question to all.
I was discharged (chapter 7) in 5/2009. YAY!! I surrendered my condo which was @45K underwater. The foreclosure process is still going on. Will my credit report show both a foreclosure and a chapter 7 bankruptcy after the foreclosure process is complete?? Currently credit report shows mortgage as IIB.

[justbroke]

It should only show Included In Bankruptcy (IIB). However, I'm still waiting for one of my properties to actually foreclose. Once it does, maybe I'll know for sure. Right now, it shows IIB.

[Karbear]

Thanks for the reply. Can't believe how long it takes to foreclose. I quit paying in July '08 and just got summary judgment yesterday. Condo was in Pasco county Florida. Could have lived rent free for a very long time

[justbroke]

Thanks for the reply. Can't believe how long it takes to foreclose. I quit paying in July '08 and just got summary judgment yesterday. Condo was in Pasco county Florida. Could have lived rent free for a very long time

I have you beat. I stopped paying in November 2007. Filed in July 2008. Still awaiting foreclosure. I bet it goes to 2 years, as they just sent me a "new" Notice of Default (NOD) saying that I have until July 3rd to come current, or they'll accelerate the note.

Accelerate... yah... like that means "speed up" or something.

[Karbear]

$5,380!!!! I just about fell out of my chair!!!! God bless you!!! Glad I went the chapter 7 route, even though it took a year and a half of careful planning in order to qualify.