Filed CH 7.. will foreclosure ALSO now be reported?

[Anonymous]

Sorry Ive searched around and Im getting conflicting answers.  I filed CH 7 on two houses, amoungst other items, that I owned with my ex.  I am a few weeks before discharge.  Chase Bank Mortgage is now attempting to lift the automatic stay, I am assuming so they can foreclose.
The houses are vacant and I need to rid my self of these houses.. but I am wondering..
will the foreclosure(s) ALSO now be reported on my credit report?  To clarify, the houses were not in foreclosure when I filed.. but they had not been paid in about a year..

[ezdriver]

Yes. Mine did.

[Anonymous]

Yrs, they will report.  I believe this question was asked and answered prior yo your filing

http://ficoforums.myfico.com/t5/Bankruptcy/About-to-file-Ch7-what-will-happen-with-homes-ALMOST-in/m...

[Anonymous]

Yes I did, I remember thanks. After looking more on line though it became more confusing.  Just wondering, when the foreclosure happened..how much of hit did your credit take?  Mine is at about 650ish now with the Bk reporting..

[ezdriver]

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@Anonymous wrote:

Yes I did, I remember thanks. After looking more on line though it became more confusing.  Just wondering, when the foreclosure happened..how much of hit did your credit take?  Mine is at about 650ish now with the Bk reporting..

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Its anyone's guess. Maybe zero.

[Anonymous]

This is what I found someplace that adds to the confusion: Your personal liability for the loan ended when the bankruptcy discharge was entered regardless of if the lender took the deed back during that process. If they chose foreclosure outside of taking the deed back through the bankruptcy trustee -- which is common if the primary lienholder wants to wipe out secondary liens--, you are not liable for anything.

The foreclosure action after the bankruptcy discharge is an action against the property, not you personally even though you are named as a party of interest on the filing. It should NOT appear on your credit reports in any way. Not as a public record, and not as a foreclosure mark on a tradeline. The loan tradeline should read "discharged" with $0 balance and no further activity past the filing date.