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  1. #1
    Join Date
    Apr 2007
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    Default Judgements, Mortgages, Foreclosure And Credit

    I have several issues regarding my house Philly PA, but I'll start with this one.
    I now have a judgement against me from a mortgage company for foreclosure.
    in 2003. I never foreclosed on my house. I still live in this "forelcosed" house today. Yes, my house was in danger of foreclosing, however, at that time my only option was to file for bankruptcy. I filed for Chapter 13 Bankruptcy within the time frame that was given, before the mortage company took further action. About 8 months later my banckruptcy was dismissed, my debt was not enough to keep in bankruptcy status. The mortgage company that filed for foreclosure is no longer my mortgage company and has not been since 2003. I called the courts about my judgement who referred me to the lawyer that was handling my foreclusure for the mortgage co. This woman did not know anything about the case. The woman told me that my house went up for sheriff sale, I told that I still lived in the house, she was suprised. She also did not know that I was not under that mortgage company any more. This woman also told me this is staying on my credit until I finish paying the mortgage loan.My question is, why should it the judgement stay on my credit? If I ever decided to pay my mortgage in full, the mortgage company who planned to foreclose would never know because they sold my mortgage in 2004 to another company who I am currently with.

  2. #2
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    Jul 2006
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    Default Re: Judegements, Mortgages, Foreclosure & Credit in Philly

    Q: My question is, why should it the judgement stay on my credit?

    A: The judgment will stay there until it is paid or otherwise satisfied.

  3. #3
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    Apr 2007
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    Default Re: Judegements, Mortgages, Foreclosure & Credit in Philly

    Even though I never foreclosed on my house? I thought going through bankruptcy would prevent this going on my credit. The judgement states, the reason is for timely filing, which is not true.

  4. #4
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    Default Re: Judegements, Mortgages, Foreclosure & Credit in Philly

    Quote Quoting tamikaleam
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    Even though I never foreclosed on my house? I thought going through bankruptcy would prevent this going on my credit. The judgement states, the reason is for timely filing, which is not true.
    You don't foreclose on a house; the lender forecloses on the house.

    A bankruptcy does not remove a judgment and does not release a mortgage.

  5. #5
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    Apr 2007
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    Default Re: Judegements, Mortgages, Foreclosure & Credit in Philly

    I'm no longer with that particular mortgage company, they sold my mortgage (or whatever it is called ) to another company(which I'm currently with) a month after the foreclosure letter was sent to me. This company didn't bother to keep up with the foreclosure. So are you saying I still can't do anything.

  6. #6
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    Default Re: Judegements, Mortgages, Foreclosure & Credit in Philly

    Quote Quoting seniorjudge
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    You don't foreclose on a house; the lender forecloses on the house.

    A bankruptcy does not remove a judgment and does not release a mortgage.
    This is your answer, no matter how many times you ask and no matter how you rephrase it.

  7. #7
    Join Date
    Apr 2007
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    4

    Default Re: Judegements, Mortgages, Foreclosure & Credit in Philly

    ok fine.......my next question is; Will I be able to refinance this house with the judgement? I need to get my sisiter's name off of the mortgage and possibly refinance with my husband.

  8. #8
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    Default Re: Judegements, Mortgages, Foreclosure & Credit in Philly

    If you qualify for a new mortgage, although bad credit can be expected to increase its cost, you can refinance.

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