Re: After Foreclosure question

Posted by M-MN on August 25, 2005 at 16:07:30:

In Reply to: After Foreclosure question posted by Wendy on August 25, 2005 at 15:12:23:

Did you also file chapter 7 bankruptcy? From what I have read on this forum, each state has a different set of rules for deficiency judgements. If you listed the home in a chapter 7 bankruptcy, then it went into foreclosure, there is a chance there may not be any deficiency judgement against you. Talk with an attorney about your state's law regarding deficiency judgements.
It could be that the credit bureaus have not yet updated your credit report and/or your former mortgage lender may be lagging behind on updating.
Until you recieve an official notification by way of certified mail of a judgement against you from the mortgage lender, I would not waste my time worrying.

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Comments:
: Did you also file chapter 7 bankruptcy?  From what I have read on this forum, each state has a different set of rules for deficiency judgements.  If you listed the home in a chapter 7 bankruptcy, then it went into foreclosure, there is a chance there may not be any deficiency judgement against you.  Talk with an attorney about your state's law regarding deficiency judgements.
: It could be that the credit bureaus have not yet updated your credit report and/or your former mortgage lender may be lagging behind on updating.
: Until you recieve an official notification by way of certified mail of a judgement against you from the mortgage lender, I would not waste my time worrying.


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