Posted on: 26th May, 2009 07:40 am
my home mortgage and equity loan was listed in my chapter 7 bankruptcy. i contacted the mortgage company and the foreclosing firm, that i have moved out of the condominium. they claim foreclosure has not started, i am still 100% responsible for the home and i cannot leave until the sheriff's sale. well i already moved, and that was very costly, so moving back is not a solution. since their foreclosure proceedings are going to start after my debts have been discharged, will this be listed on my credit separately? i was hoping to only have one giant bad mark on record for the next 10 years, instead of 2.
since it is a condominium, i am thinking about keeping the condo insurance at least until their is a sheriff's sale date given, but is that null and void if no one is living on the premises?
since it is a condominium, i am thinking about keeping the condo insurance at least until their is a sheriff's sale date given, but is that null and void if no one is living on the premises?
An added note to the questions above: I have not reaffirmed or made any payments to the mortgage or 2nd mortgage lender since the Chapter 7 filing.
Hi Guest!
Welcome to forums!
As far as I know, your credit will get ruined for both the bankruptcy and the foreclosure separately. Though you do not have a personal liability to pay the debts, but the lender still holds the lien on the property. So if the property is foreclosed, your credit will definitely get hampered.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
As far as I know, your credit will get ruined for both the bankruptcy and the foreclosure separately. Though you do not have a personal liability to pay the debts, but the lender still holds the lien on the property. So if the property is foreclosed, your credit will definitely get hampered.
Feel free to ask if you have further queries.
Sussane
Our loans for our home that we included in our chpt 7 are listed as included in bankruptcy and no foreclosure is listed, we're already at 700 24mo post chpt 7