Foreclosure After 7

[jesd00]

Hi All -

I had my chapter 7 bk discharged in August. I chose to "retain and keep current" my condo, which is more than $60,000 under water since I purchased it in 2007. It is so far under water that it will never recover to any value near its mortgage balance.

My question is: if I choose to walk away from the home, will missed mortgage payments and ultimately the foreclosure be placed on my credit report even though the mortgage has been discharged and I am no longer "personally liable"?

Thanks in advance for your input.

[ccsjoe]

If you did not reaffirm and the loan was included in your filing and discharged, then no, they can not report your performance on it to the bureaus. Nor are you liable for any deficiencies. You are however liable for HOA fees incurred post discharge until your name is off the title.

[confident]

CC - I should've read this before I wrote back on the other thread - is it HOA fees post discharge specifically that we would be liable for?

UPDATE: I checked w/ atty's office and was advised that, since approx five months ago, HOAs are not automatically discharged through bankruptcy anymore....

[ccsjoe]

confident, thanks for pointing something out to me. I mistyped. It's not HOA fees post-discharge, but post-filing date that you are liable for. They can't take action against you until post-discharge. My mental ramblings get mixed on ocasion.