QUESTION
Can a Lender Report a Foreclosure or Deed In Lieu on your credit report after a Bankruptcy has been discharged? The Real Property was included.
Asked on Oct 27th, 2011 on Bankruptcy - Montana
More details to this question:
It has been a year since the bankruptcy has been discharged and the mortgage lender has not yet foreclosed on the home. I would like to know if my credit has started the process of re-building or if the lenders delay is holding up a credit reporting that will show a current date delaying the clock of the foreclosure?
1 ANSWER
William/J Joanis
Credit reports are not subjective. They state facts. As long as the facts are true, or not stale, they pretty much get on the report. The fact your personal obligation to repay the debt secured by the real estate has been discharged doe not change the fact that the bank has a debt that is still secured by the real estate. When they take action, it will, no doubt, be put on your report.
Answered on Nov 01st, 2011 at 1:17 PM