Foreclosure on ride thru...credit report

[MakinMeCrazy]

Hi!'
Its me again.....we filed in Nov 2010......discharged and closed Feb 2011...heres my question....our mortgage is currently doing a "ride thru"
Our plan is to "walk away" in a couple months and let the bank foreclose.....

What I would like some info on is...........When the bank forcloses....will that reflect on our Credit Report? Right now our credit report for the mortgage says:
Balance $00000 Included in Bankruptcy

This makes me think........No balance.....they shouldn't show a foreclosure.......because I think basiccally they are just taking our names off the deed............

PLEASE! PLEASE someone tell me I'm right .that it will NOT reflect on our credit report ......because the names were just removed from the deed?

Thank you in advance for anything you can tell me

[Ann]

I asked this question before and got conflicting answers. Once and for all does or does it not show on the credit report?

[drowning123]

No, it does not show "Foreclosure" on your credit report. It should always show IIB. If it does show "Foreclosure", you need to dispute with the credit bureaus. This is why ride-throughs do not help your credit score because they're not reported either since the mortgage was discharged.

[MakinMeCrazy]

Oh..most excellent news.I did not want a forsclosure on my report........ thank you so very very much

[screentest]

I will also back this up with a "no-show" on the credit report.

I checked my in-laws credit report again today and confirmed the house they had foreclosed on in May of 2010 does NOT show up on their credit report or in the public records section as a foreclosure.

They had the mortgage discharged in chapter 7 a few months before the FC was completed and it shows IIB included in BK 7. Their credit score is well into the 700s now since they were discharged a little over 18 months ago.

ST