foreclosure after bk discharge

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Bankruptcy and credit consumer protection laws and foreclosure laws can vary widely from state to state. chapter 7 bankruptcy typically wipes out unsecured debt, any debt that is not a loan against a tangible asset, as in a car or house. In general, however, you still have to deal with secured debt as a part of a Chapter 7 bankruptcy.

Mortgage after bankruptcy: How soon can you buy a home?. the foreclosure happened after the bankruptcy was discharged, When both a bankruptcy and foreclosure are disclosed on the loan.

No they cannot report your foreclosure if you did not reaffirm!! That MUST be listed on your credit report as part of the bankruptcy by law. If they add anything to your credit report about foreclosure after your discharge debt, contact the credit bureau demanding removal.

The bankruptcy case is awaiting discharge. Early this year, a U.S. Bankruptcy. Dual Upside To Foreclosure Alternative – at least short sellers avoid having a "debt discharged due to foreclosure" on their credit reports. Mortgage and credit experts say that, after bankruptcy, having a foreclosure on your credit report.

Foreclosure After Bankruptcy Discharge – Need a fresh start? Get a free bankruptcy evaluation to determine if filing bankruptcy is the right option for you.

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Alternatively, the lender might decide to wait to proceed with the foreclosure until after the bankruptcy case has been completed. The Bankruptcy Discharge. Most debtors who file for bankruptcy do so to obtain a discharge, or release, from personal liability for certain types of debts.

The paradox here is that (at least in NV) the bank cannot foreclose without sustained delinquency (you don’t pay the bill). This is why they don’t immediatly "take the house back" when your BK is discharged. So, once you fall behind after the BK, they can start the foreclosure process to clear the title.

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As part of the bankruptcy settlement, the court will issue a discharge order on the mortgage as long as the person who filed agrees to forfeit the property to the lender. After the bankruptcy is finalized, the borrower has no liability to the lender for missed payments and debts that were incurred prior to the bankruptcy filing.