Posted on: 26th Oct, 2011 12:02 pm
if a bank is not reporting good or bad on your credit report after you filed bankruptcy chapter 7 and you did not reaffirm, will they report the foreclosure?
Hi jj!
Welcome to forums!
If you did not reaffirm your mortgage, then the lender will not report anything about that loan to the credit bureaus. There are chances that the lender may not report the foreclosure to the credit bureaus as well.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you did not reaffirm your mortgage, then the lender will not report anything about that loan to the credit bureaus. There are chances that the lender may not report the foreclosure to the credit bureaus as well.
Feel free to ask if you've further queries.
Sussane
Hello jj,
The reaffirmation agreement allows you to continue to make payments on a secured loan and retain the secured property. The rejection of the agreement simply means the creditor can apply for relief from stay and repossess or foreclose on the property. If you have been making post-filing payments, the creditor may not bother and, in some states, under state law cannot proceed against the property.
:idea:
The reaffirmation agreement allows you to continue to make payments on a secured loan and retain the secured property. The rejection of the agreement simply means the creditor can apply for relief from stay and repossess or foreclose on the property. If you have been making post-filing payments, the creditor may not bother and, in some states, under state law cannot proceed against the property.
:idea:
