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My reports show that Foreclosure was reported in Bankruptcy but it was not! what to do?

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Anonymous
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My reports show that Foreclosure was reported in Bankruptcy but it was not! what to do?

All our credit reports show our BK in public records section, then our  mortgage acct says (under Payment StatusSmiley Happy this debt was included in Bankruptcy of 7, 9,11, 13 etc. (as most of the other debts that we did include) ---This is not true. Does this make a difference or is it a major error? It was not included in Bankruptcy!

 

We are trying to buy a house and we need our BK to be 2 yrs out and 3 yrs for Foreclosure. Our BK was discharged Nov.2007. Filed in August 2007. Our Home trustee sale for the foreclosure was May 14, 2007 . I have the sale trust deed.

How could it be included in the debt if we didnt have possession of the property, it was already sold before we even filed for BK. It is not included in our paperwork for BK. Although, our 2nd HELOC loan was included in the bk...and happens to be the same company GMAC.  I am in California if that matters.

 

I think this may be a bad thing when I try to qualify for a USDA loan, because if it shows that it was lost in the BK then It would not be until Nov. that we could buy a house.  ( 3 yrs still)

 

I was going to dispute this, but I want to make sure this is a bad thing or good thing possibly or how I can best handle this...to make sure my credit scores dont suffer while we are applying for this loan. Anything I can do?

 

 

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Anonymous
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Re: My reports show that Foreclosure was reported in Bankruptcy but it was not! what to do?

I believe that having it included in the bankruptcy is actually better than having it as a stand alone foreclosure.  That's one of the reasons we filed for bankruptcy.  We had an unoccupied, unsold home in another state.  It sat on the market for 2 years and we could no longer continue paying for it and still eat and put gas in the car to go to work.

 

Let's see what others say about the new BK rules and the new credit rules.

Message 2 of 2
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