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Registered: ‎11-05-2012
Re: Chapter 7 already discharged - mortgage not reaffirmed - foreclosure/credit score question

Does anyone have an answer to this?  This is our question too -- we are in California.  We filed Chap 7 and was discharged a year ago, but filed for loan modification as we really want to keep our home.  Finally almost a year now still no loan mod.  The bank has beat us up good...our home is completely underwater and needs lots of repairs which we don't mind doing if we can keep it.  Since the bank is not budging even after our DTI qualified (our loan is predatory with Wachovia and was bought out by WFHM), we feel there is no hope trying to work with them, it appears investor want out regardless of our qualification.  But they are asking us to Short sale....we are wondering which way to go - they don't want give us the loan mod but they want to short sale...Shall we Short Sale or Foreclose?  We have worked hard to get our credit score back up to a decent number and don't want a foreclosure to reverse what we have built up again.  The mortgage is already recorded on our credit as being discharged with BK with no data.  Can the bank double report and put down a foreclosure or will it come out as public record?  I seems criminal that they double ding us preventing us to move forward to rebuild.  Please anyone out there with an answer would be so appreciated.