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Registered: ‎11-16-2011
Chapter 7 already discharged - mortgage not reaffirmed - foreclosure/credit score question

I am looking for some direction on the following scenario:

1.  We are 2 years past our Chapter 7 discharge and mortgage was included in discharge NO REAFFIRMATION

2.  We have stayed current on the mortgage but credit score shows chapter 7 for the mortgage and no activity on it since the discharge

3.  We are now cosidering walking away from the house/mortgage

4.  We have rebuilt our credit up to the mid 600's and would like to keep it that way


1.  How will the foreclosure be reported to the credit bureaus?

2.  Since the mortgage is already closed will this lesson the affect of the foreclosure?

3.  Are there other options to avoid the foreclosure with the bank such as deed in lieu or cash for keys?

4.  Any other suggestions/options that would allow us to give the property back to the bank and avoid the foreclosure process completely?


Thank in advance for any help!  We greatly appreciate it!