Mortgage Included in Chapter 7 now foreclosed

Anonymous · ‎04-10-2013

Hello all,

I am looking for some advice as to what I can expect on my credit score with an upcoming foreclosure. Three years ago, I filed chapter 7 bk and my mortgage was discharged in the bk. With that being said, the bank never officially foreclosed on the property and is doing so right now. Over the past few years I have raised my score back up to 700 and have obtained two car loans and a few credit cards. Since there will be no late payments factored into this foreclosure and the mortgage was cancelled in my bk, how will the record of a foreclosure affect my fico score? It will just be a public record addition with no additional late pays.. Ideas?

AndySoCal · ‎04-10-2013

The status of the account on the trade line should not change. The story on this trade lin ended when the BK was discharged, What happens post discharge should not be reported. The trade may be interpreted as a forelosure by some underwriting engines. The reason is the type of loan it is and its status in a BK that was discharged.

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Anonymous · ‎04-11-2013

Thanks AndySoCal! So just to confirm, the forclosure is the end result of the tradeline being iib, so it will not directly result in a credit ding? Any idea what they will report and if they do report this in the PR area, can you confirm that it shouldn't drop my fico score. Thanks

AndySoCal · ‎04-11-2013

The foreclosure should not report on your credit report. (my opinion) The foreclosure happened post the BK not prior to. I presume by PR you mean public records. I do not know of a bureau that reports foreclosures as publics records still. I know they used to.

FIC Scores XPN v8 805 V2 831 (SDFCU) TUC V 8 800 07/25 EFX Bankcard v8 822 EFX FIC0 v8 807 Vantage score 4.0 817 via JC Penney
JC Penney 10/2008 4,700 US Bank Cash 08/2010 12,000 Citibank Custom Cash 5/2015 14,100, State Dept. FCU 06/2023 25,000 02/2024 Redstone FCU Signature VISA 10,000 08/23/2024 Commonwealth Credit Union 15000 07/25 Walmart One 5000 12/04/25
Banking: Lafayette FCU Fortera FCU State Department FCU Redstone FCU Hughes FCU Commonwealth FCU
My personal blacklist Axos Bank, Bank of America, Synchrony Bank Capital One TD Bank Comerica Bank BMO US Bank Wells Fargo

Anonymous · ‎04-12-2013

I hope not, becuase I have worked to hard to get my score back up. A double-ding would royally suck. I keep hearing conflicting information about this, so I hope your right AnySoCal!!!!!! Thanks for the help..