Home included in ch 7, credit report not showing foreclosure? 3 yrs ago!

[momtoroxy]

We filed for ch 7 back in oct of 2009. We were discharged 1/20/10. Our home was not taken over by the bank until 6/10/11, I only know this based on the city recorder records, because we had to move for a job opportunity. The kicker is, our credit report still isn't reporting a foreclosure. Is this correct?? The home WAS included in our bk. We will be looking in the next year or so to buy a house. I know it's 2 years from discharge (we are at about 3), but 3 years from the date the bank took over/home changed hands...well that was 1.5 years later.

Any help? On our credit reports it just shows an X (no report) in the months up until the house changed hands...but doesn't reflect foreclosure.

We haven't spoken with a lender yet...what gives?

[TBA]

I am pretty sure this is correct - the pub record will not appear as the mtg was iib. That is how it will show.

When the lender checks your credit, they will probably do the same thing you did and check OR and tax appraisers to get conformation on dates. GL!!!

[HHM]

Luckily, that is how the mortgage should be reported. Since you BK'd prior to the foreclosure sale, the foreclosure should not be reported on your credit report.

However, that doesn't mean the foreclosure didn't happen. As TBA points out, you still need to bel 3 years from when the home changed hands before you can get another mortgage. Your credit report is not the only source of info for knowing whether you went through foreclosure. Sorry.

Not having the foreclosure may incrementally affect your score (which is good news for "other" types of credit, e.g. credit cards, car loans etc), but you still need to wait 3 years under current guidelines before you will be approved for an FHA mortgage.