My husband and I filed bankrupcy and included the house 4 years ago and Washington Mutral"Chase" are trying to put it on our credit as of

Asked by Didi, Lancaster, CA Thu Jun 16, 2011

5-14-11. we had to do a bk and divorce about the same time and neither one wanted to stay at the house. We acknowledge that we are responsible for losing the home and putting it on our credit 4 years ago, but we are confused why now when our credit is in good standings.

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Mark Chappell, Agent, Palmdale, CA
Thu Jun 16, 2011
Hi Didi,
It can be difficult to answer questions like this without knowing fully all the details. I guess my first question is- when did the foreclosure record? In some cases, the owner will move out of a house, change their lives and move forward- knowing notice of default was filed (NOD). Then they check in to their credit to try to buy something 1-2 years later only to see the foreclosure was reported last week... a year or more after the NOD was filed. Banks can foreclosure NOD-90days, then NOS (Notice of sale) 21 days after that. In today's market, most bank are not foreclosing in the time allowed. The loan might even be sold several times during the process. Step one, confirm the actual foreclosure date- it's public record. Any agent or lender or title company can get you that info in just a few minutes, at no cost typically. -Mark Chappell, CRS, Broker Associate 661-223-4017
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Shel-lee Dav…, Agent, Rolling Hills Estates, CA
Thu Jun 16, 2011

In addition to the advice below, you need to look at your bankruptcy documents and maybe even contact your old bankruptcy attorney, or a new one. Was the house actually administered through the bankruptcy proceeding or did the trustee abandon the house out of the estate (which means that it came back to you and your husband and I believe that you then needed to deal with its disposition).

Too often people think that Bankruptcy will handle their mortgage issues, either by letting them stay in the house and paying lower payments, or by dealing with the upside down house for them. Unfortunately, bankruptcy was mainly designed to deal with unsecured debt. You really need to seek some legal, bankruptcy specific, advice on this. If you need a referral, let me know. I know several good BK attorneys and would be happy to pass their names on to you. Good luck.

Shel-lee Davis, QSC®
Certified Distressed Property Expert – CDPE®
Short Sale & Foreclosure Resource – SFR®
Certified HAFA Specialist – CHS®
SSG Pro®
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty
424-2HELP12 (424-243-5712)
0 votes
Tamara Stoebe, Agent, Lancaster, CA
Thu Jun 16, 2011
Hi Didi,

Shane brings out a good point - you need to pull your current credit report, there are many ways to do this, but you may want to check out this link:

If the bank is improperly reporting you, you have options. Don't delay in getting assistance.

Tamara Stoebe, REALTOR, GRI, e-PRO, CHS, QSC
DRE License #01827461
Prudential Troth REALTORS
1801 W. Ave. K
Lancaster, CA 93534
Cell: (661) 466-6849
Fax: (661) 422-3006
0 votes
Elva Wormley, Mortgage Broker Or Lender, San Jose, CA
Thu Jun 16, 2011
Hi Didi,

When you look at your credit report, you should see a reporting date, it might say "Date Rptd" and a last activity date, which might say "LACT".

If the last activity date is not accurate, you can ask the credit reporting agencies to make the correction. The reporting date will always be within a month or two of when the credit report is pulled.

Best regards,

Elva Wormley
Cobalt Financial Corporation
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Gerard Carney, Agent, Spring Hill, FL
Thu Jun 16, 2011
You owe on the house, they have up to 5 years to go after you for it, since the house probably did not have a value that satisfied the loan, they waited to go after you when your finances were better! Did they go through proper foreclosure proceedings? Did you get Foreclosure documents, if not they took possession and now have recorded their lose due to your none payment! I
m sorry, I know it doesn't seem nice but banks do what ever they want and there is nothing anyone can do about it!
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Shane Milne, Mortgage Broker Or Lender, South Jordan, UT
Thu Jun 16, 2011
Are they saying it happened in 5/14/2011 .... or on 5/14/2011 did they just finally put it on your credit, retroactive to 4 years ago?

Do you know when the actual foreclosure sale occurred?
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