About to file Ch7.. what will happen with homes ALMOST in forclosure

[amber78]

Should be filing CH7 next week Monday (fingers crossed) and I have two vacant homes ALMOST in foreclosure (thanks ex-husband)... Im just curious from a credit standpoint what will happen.. After I file, can they still foreclose on me?  Will my ex get the brunt of all this?

[ezdriver]

The "almost in foreclosure" is irrelevant to the bankruptcy. When your foreclosure papers are prepared by your attorney, the mortgages for those properties will be listed on the creditor schedule. When you receive your disharge, you will no longer be responsible for the mortgage debt. Once you file, the creditors will not proceed with foreclosures until your discharge have been granted. Even then, your name will remain on the deed for those properties until the mortgage companies actually foreclose and take possession of them.

[amber78]

Thanks for the info.  Will the foreclosures then be on my credit report as well?

[ezdriver]

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@amber78 wrote:

Thanks for the info.  Will the foreclosures then be on my credit report as well?

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If your name was on the mortgage note, then the foreclosure would be reported on your credit report.

[amber78]

Thanks I was HOPING that if I get the BK done before the foreclosure starts that maybe they would be unable to report it. oh well. GRRR