Posted on: 17th May, 2011 02:06 pm
We had a home foreclose almost thre years ago. The bank did not sell the property and stopped , left our name on it and left property sitting. They are now finally foreclosing again and should sell it within thirty days. We had a chapter 7 and dept was discharged from the loan on the house almost three years ago. Can we get a loan now . Our credit scores are good and we have good income.Do you or anyone out there have a clue. Mortgage people act confused about it.. HELP
The problem is the credit. What shows on your credit? Does it just show the BK and the delinquency? If they are going through the foreclosure now, my fear is it will be reported as foreclosure on your report, once finalized. If there is nothing on your report now, try to get approved asap. Doing a BK always messes up the persons credit, attaching to other people in family with same name, etc. Pull your credit and go from there. Please contact me if you need more info.
Yes. I agree with Adonis. Definitely foreclosure create a negative impact on the credit report