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  1. #1
    Join Date
    May 2013
    Posts
    1

    Angry Foreclosure Showing Up After a Chapter 7 Bankruptcy

    My question involves bankruptcy in the state of: Wisconsin.

    My wife and I filed chapter 7 in 2009. We are currently in the process of purchsing a new home. Everything was going great until today! Our financer called and said that we have a foreclosure on our records showing it forclosed in 2011? When we filed chapter 7 we moved out of the house before everything was finalized. Can the bank forclose on a house after we gave it back to them in a Bankruptcy??? This is preventing us from getting financing because we are going through a USDA program that requires three years from a bankruptcy or a forclosure. Let me know your thoughts. Thanks

  2. #2
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: Foreclosure Showing Up After a Chapter 7, We Never Forclosed

    You don't foreclose, the bank forecloses.
    What is the date of your bankruptcy discharge (not when it filed).

  3. #3
    Join Date
    Sep 2010
    Posts
    478

    Default Re: Foreclosure Showing Up After a Chapter 7, We Never Forclosed

    When we filed chapter 7 we moved out of the house before everything was finalized. Can the bank forclose on a house after we gave it back to them in a Bankruptcy???
    Unless you executed a deed in lieu of foreclosure all you did back in 2009 was sign the Statement of Intentions that said you were going to surrender the property. Title remained in your name until you either executed a deed in lieu of foreclosure, sold the property OR the lender foreclosed. So, yes, the lender can foreclose and yes, the three year requirement of some agencies applies from the date of the foreclosure.

    Des.

  4. #4
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Foreclosure Showing Up After a Chapter 7, We Never Forclosed

    Are you talking about an entirely new entry in your credit report for the foreclosure, or a notation of a foreclosure following the bankruptcy discharge without redemption?

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