Does anyone know what the effect on your credit report would be if you completed a short sale after Chapter 7 Discharge and house was IIB? Lender has not foreclosed yet.
We were discharged in Sept 09 and credit reports show mortgage as "Chapter 7 Bankruptcy" or "Included in Bankruptcy".
If a short sale is now completed will my credit reports show "short sale--settled in full for amount less than owed"? If so will that affect me negatively?
I thought I read that if credit report already showed IIB it can not be changed?
We were discharged in Sept 09 and credit reports show mortgage as "Chapter 7 Bankruptcy" or "Included in Bankruptcy".
If a short sale is now completed will my credit reports show "short sale--settled in full for amount less than owed"? If so will that affect me negatively?
I thought I read that if credit report already showed IIB it can not be changed?