I think Don has the right idea in heading it off before it becomes an issue. I also think youre a bit over zealous in your response to him.
To whoever it was asking about my response about BK's and Foreclosures, I know plenty of lenders who can refi you while in a 13, and can get loans done after a 7. But a foreclosure will put you out at least 2 years before you can even get a look from them.
Granted in theory it should say "included in bankruptcy" if they filed, but more often than not it never gets put that way so they are getting a double ding. The other issue is it often reports twice. Once from the credit standpoint, and once from the public records. It can be tedious to go through and get everything set in order so its reflecting properly.
Its always better to avoid the foreclosure, even if they are planning to do a BK on other debt. The more you can demonstrate a willingness to pay, the better your chances are of getting financing again.
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