Posted on: 18th Jan, 2011 12:10 pm
Hi friends! I filed bankruptcy in 2001 and it was discharged early 2002. My mortgage, as well as my Homeowners Association was included in the Chapter 7 but my mortgage was not reaffirmed. Now I'd like to walk away from the house...giving it back to the bank. If I do this, will my credit take an additional hit?
At one point I was told that because the home was included in the bankruptcy, and the mortgage not reaffirmed, that the bank couldn't add a foreclosure seperately to the credit bureaus. Does anyone know if this is accurate? Also, I had paid all that I was behind on (HOA dues and mortgage) so that I could continue to live in the house. Can the HOA try and come after me again all these years later and even if it was included in the bankruptcy? Thanks so much!
At one point I was told that because the home was included in the bankruptcy, and the mortgage not reaffirmed, that the bank couldn't add a foreclosure seperately to the credit bureaus. Does anyone know if this is accurate? Also, I had paid all that I was behind on (HOA dues and mortgage) so that I could continue to live in the house. Can the HOA try and come after me again all these years later and even if it was included in the bankruptcy? Thanks so much!
Hi classee,
If you walkaway from the property, I don't think your credit will take any additional hit. Moreover, after the foreclosure, the lender won't be able to come after you in order to recover your dues resulting from the property sale.
Thanks
If you walkaway from the property, I don't think your credit will take any additional hit. Moreover, after the foreclosure, the lender won't be able to come after you in order to recover your dues resulting from the property sale.
Thanks