Question:
Filed bankruptcy and it was discharged 09/06. My house has been on the market for over a year. Since I did not reaffirm, I would like to know if a foreclosure will go on my credit. If it does how much more damage will it do to my credit.
Answer:
No.
If you did not sign a reaffirmation agreement on your home it should already show as "Included in bankruptcy" on your credit bureaus.
As long as you continue to make payments the mortgage company will do nothing. But without the reaffirmation agreement they will not report any activity on your account to the credit bureaus.
It is already in the toilet--don't worry
My understand is that it will go on as a foreclosure if it happens after the BK.
Did you try a short sale or deed in lieu of on the house?
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