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If the mortgage was reaffirmed but on your credit report it appears as Bankruptcy is this an error?
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.
Can you get a reverse mortgage if you file bankruptcy?
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.
How long after filing chapter 7 bankruptcy can you purchase a house?
Typically, mortgage companies are willing to lend to a consumer 12 months after a bankruptcy is DISCHARGED. Make sure that the disposition is recorded on all three credit bureaus. Also, follow up and make sure that all credit accounts that were included are notated as "included in bankruptcy" and cleaned up, so that they will no longer impact your credit scores. You also need to establish and pay on time positive credit. Twelve months of positive payment history on even one account will help you to get another mortgage.
Can discharged items that were included in a bankruptcy be listed as discharged in bankruptcy on your credit report?
Yes, discharged debts are generally noted as "included in bankruptcy" on a CR.
If the mortgage on your home was not reaffirmed after bankruptcy can the mortgage holder report on your credit report?
I can only speak from my own experience. It does indeed appear on our credit report and also states that the mortgage company is filing a claim against us--even though we did not reaffirm the loan. Completely wrong and I've disputed it many times with ALL the credit bureaus but they will not remove it. I'm not sure if there's a government organization that can help force the mortgage company to report correctly to credit bureaus or one that can force the credit bureaus to actually DO an investigation when you dipute it. No win situation, I'm afraid
Is there a bank where you will be able to qualify for a mortgage even though you have bad credit?
Chase will qualify you for a mortgage even if you have bad credit. You can even have filed for bankruptcy
What is the waiting period for purchasing a home after filing bankruptcy if a mortgage was included?
There is no specific waiting period. You can purchase a home as soon as you reestablish your credit to the satisfaction of any proposed lender.
Can credit cards be used after someone files for bankruptcy?
Sometimes credit card charges are not included in bankruptcy. If they are then you will no longer be able to use them.
What are the laws pertaining to a credit reporting agency still reporting after a bankruptcy discharge?
Debts included in the bankruptcy should be noted as such in the credit report. The bankruptcy will remain on the credit report for ten years.
If I file for bankruptcy can I still refinance my mortgage?
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.
What if you file bankuptcy and have a reverse mortgage?
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.
How can you get a judgment off your credit report after filing bankruptcy?
If the debt that you were sued over, or the judgment itself was included in your bankruptcy, you only need send a copy of your bankruptcy papers to the credit reporting agencies. The judgment will not "come off", but it should get marked "included in bankruptcy" or "discharged through bankruptcy".
