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My ex-husband of 8 years filed bankruptcy on a home that I signed a quit claim on but my name is still on the mortgage as a co-debtor will this show as a bankruptcy on my credit report as well?


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2006-05-07 18:50:06
2006-05-07 18:50:06

No the bankruptcy will not show on your credit history unless you filed as well. However, now the mortgage company has the right to come after you in full for the amount owed, since the Court has released him from all obligations.

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Related Questions

Yes, a reverse mortgage does not have any credit requirements, however if you are in bankruptcy or filing one you may need court approval to do the reverse mortgage.

Yes, a reverse mortgage does not have credit requirements. you can use one to pay your way out of a bankruptcy, or one right after a bankruptcy. However, the bankruptcy court does have to approve the reverse mortgage if you are in the process of doing one or still paying on one.

Chase will qualify you for a mortgage even if you have bad credit. You can even have filed for bankruptcy

The reverse mortgage is typically unaffected by the bankruptcy as the mortgage is usually left out of the bankruptcy- that is a conversation you need to have with your attorney however. The bankruptcy court may look at the amount of equity you have in your home and determine what type of bankruptcy you qualify for. A reverse mortgage can even be used to pay off a bankruptcy or a mortgage in foreclosure as there are no credit requirements on them. I suggest talking to a bankruptcy attorney for information on what is available to you from the courts side of things.

You would probably be better off refinancing your mortgage first and then applying for bankruptcy later on. My mom had to file for bankruptcy due to credit card debt she could not pay.

No. Such a law would violate bankruptcy law, which prohibits discrimination by reason of bankruptcy. The problem is usually getting a mortgage because of credit scores, which include many factors including the reasons for filing bankruptcy.

"A bankruptcy will remain officially on your credit report for 7 years in most states. This big mark makes it more of a challenge to get a mortgage at a reasonable rate, but certainly not impossible."

If you have just filed bankruptcy, you will not be barred from ever obtaining a mortgage loan; however, you will not be able to get one immediately. When you can get a mortgage after bankruptcy will depend upon the type of loan you want, the type of bankruptcy you filed, and how good your credit is at the time you want the loan.

Same as a bankruptcy There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure.

You can refinance your mortgage, even after a bankruptcy. Refinancing can even help restore your good credit in about two years! Sit down with your lender and talk about a refinancing plan.

Yes, a reaffirmed mortgage needs to reflect the mortgage payment history before, during and after the bankruptcy proceedings. "In Bankruptcy" needs to portray only DISCHARGED BY or INCLUDED IN...Bankruptcy. Contact your mortgage company so that all of your payment history shows on all three bureaus. No. Not if it were a part of the bankruptcy filing. It may or may not be marked included in bankruptcy or reaffirmed in bankrutpcy. It will still remain on the CR for the prescribed time.

A foreclosure or bankruptcy is never good for your credit, this is something you'd be better off discussing with an attorney. You can avoid foreclosure by filing bankruptcy.

"Bankruptcy status remains on a person�۪s credit report for 10 years, but mortgage lenders want you to hold off on getting a mortgage for at least two or three years. If your post-filing debt payments have been reported to your credit agency as being on time, and you have steady employment, your chances of getting a mortgage financed increase considerably."

No legitimate commercial lender will grant you credit while you are in a Chapter 7. Any applications will be turned down and will adversely affect your credit score. The only possible credit situation would be a mortgage restructuring, if you are reaffirming the mortgage, and even then they prefer to wait until you are discharged.

Yes, as long as the bankruptcy has been discharged, your credit score is 580+, and you earn enough income to support the additional loan.

It will have no affect on the mortgage as long as the lending terms are met by the primary borrower.

Generally, any credit for a number of years, especially mortgages, are so difficult as to be impossible.

No, sorry, that wouldn't help a bit, and just damage your credit score.

There's not set time, however you have to have unblemished credit after the discharge of a bankruptcy, mortgage companies like to see at least a year, maybe two.

Bankruptcy will always be on your credit scoring record. After the bankruptcy is discharged it will have a less negative effect, and then after 6 years it is supposed to be considered done with and you get get a mortgage, loans etc. However, having a bankruptcy on your record will always have some negative effect even after the 6 years are up. Bankruptcies are maintained on a credit report for at least 10 years.

The bankruptcy will appear on their credit if you include this card in your bankruptcy. If you leave the card off the bankruptcy, it will not effect their credit.

Once a person's bankruptcy has been discharged and they have gone through credit counseling with no further debts owed, they may contact a mortgage company.

You can refinance even a day out of bankruptcy. Every situation is different but the main criteria are the type of bankruptcy, your credit score, amount of equity available, how you've paid your bills since the bankruptcy and time in bankruptcy.

Bankruptcy lowers your credit report.

Bad credit is not the only disadvantage to filing for bankruptcy. The most obvious disadvantage of filing for bankruptcy is that it will ruin your credit for at least 7-10 years. Some other disadvantages include:* Losing credit cards* Losing non-essential possessions* Inability to obtain a mortgage for some time* Embarrassment* Not all debt will be discharged

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