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07-09-2008, 08:01 AM
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if you file chapter 7 and add your house to it
does it still go down on your credit as a foreclosure? my husband and I just signed the chapter 7 paper work and want to know if our home that we added to the chapter 7 will go down on our credit as a foreclosure? and will it go in the newspaper under our names as a foreclosure.
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07-09-2008, 09:17 AM
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If the house is in the BK then it isnt a foreclosure. The only time it is a foreclosure is if the bank actually goes to the court and kicks you out. And when the paper get the info, its listen under the bank, not you. By that time it wouldnt have been your house.
Also, research the Loan Modifaction Act of 2007. That might help you out a bit. |
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