Forclosure or not?

[nadnerb]

What is the name of your state?What is the name of your state? Tx.
I filed chapter 7 bk January 2004. My mortgage was suppose to be reafirmed, but it never was. I kept paying my mortgage monthly until December 2004. I found out that it was never filed by my lawyer or the mortgage company to be reafirmed, so it was just added in with the bk. I am trying to get out of my house, but I can't sell it for what I owe on it. If I stop making payments on my house until I get evicted, will it show on my credit as a foreclosure or that it was just added in the bk?

 

[HomeGuru]

What is the name of your state?What is the name of your state? Tx.
I filed chapter 7 bk January 2004. My mortgage was suppose to be reafirmed, but it never was. I kept paying my mortgage monthly until December 2004. I found out that it was never filed by my lawyer or the mortgage company to be reafirmed, so it was just added in with the bk. I am trying to get out of my house, but I can't sell it for what I owe on it. If I stop making payments on my house until I get evicted, will it show on my credit as a foreclosure or that it was just added in the bk?

**A: it will show up as both.

 

[murphylawfamily]

What is the name of your state?What is the name of your state? Tx.
I filed chapter 7 bk January 2004. My mortgage was suppose to be reafirmed, but it never was. I kept paying my mortgage monthly until December 2004. I found out that it was never filed by my lawyer or the mortgage company to be reafirmed, so it was just added in with the bk. I am trying to get out of my house, but I can't sell it for what I owe on it. If I stop making payments on my house until I get evicted, will it show on my credit as a foreclosure or that it was just added in the bk?

I am going through the same thing right now except our BK was in 03. I just went to a Real Estate attorney yesterday. Our 2 options because we want out of the house as well are: let the house go into foreclosure which will show on your report not on the day of BK but from what I gather on the date of sale, it will show on PR just like a BK does. This would not be good if you plan on buying in the next couple of years. The 2nd is to do a deed in lieu of foreclosure. Because we have had so many problems with this mortgage co we are going to have the attorney neg for us. He is going to try and get us a couple of months to rent so kids won't change schools.

Our BK attorney did not tell us anything so this stuff we just found out last month. Because the house was not reaffirmed it stops reporting (on ours) in 7/03 we were current going into BK. The problem with the CR is that IIB under mortgage co means the same thing as foreclosure to many lenders according to most that I have read. (that is alot)

I hope this helps I know I am stressed and upset to find this out almost 2 years out of BK.