Posted on: 09th Aug, 2009 10:47 am
Unfortunately, I had no choice but to file for a Chapter (no asset) bankruptcy, which was discharged in October of 2008. We moved out of our house last year. The mortgage company is now talking about foreclosing and auctionoing the house either this month or next month (we have not received anything in writing).
When it goes to foreclosure does this really affect my credit status any more since I have already filed/discharged the Chpt 7?
Thanks,
Just wondering how much worse it can get.
When it goes to foreclosure does this really affect my credit status any more since I have already filed/discharged the Chpt 7?
Thanks,
Just wondering how much worse it can get.
Hi jofo,
Though your bankruptcy was discharged by the court, the lender still holds the lien on the property so he has the right to foreclose the property. A foreclosure on your property will affect your credit score. It will lower your credit score by 200-250 points.
Though your bankruptcy was discharged by the court, the lender still holds the lien on the property so he has the right to foreclose the property. A foreclosure on your property will affect your credit score. It will lower your credit score by 200-250 points.