I filed bankruptcy two years ago, after my lender initiated foreclosure. According to the bankruptcy lawyer, having the mortgage included in the bankruptcy would avoid having a forclosure on my credit report. Recently I found that the lender is still reporting the loan as a foreclosure. I disputed the item, and got back a reply stating, "This creditor has
verified to Equifax that the current status is being reported correctly". Am I correct in thinking that the item should be changed? If so, how should I proceed? If the item is changed to reflect inclusion in the bankruptcy, will it still show the payment history?

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I lost my house to foreclosure in Feb 08. The house sold in May 08. I just got a letter in the mail from a lawyers office trying to collect a debt in the amount of 91K. I am assuming that this is from the foreclosure. I thought that once I lost my house (and I tried to keep it and was even doing a short sale that was approved) that I would only have horrible credit for the next 7 to 10 yrs (which my credit is horrible). I never refinanced my house or took out a line of credit on it. I paid faithfully until I was unable to make the payments. Any suggestions? I have not contacted the lawyers office and wanted to find out if I have any options or is bankruptcy the only way out? I would like to avoid bankruptcy but there is no way I can afford a 91K bill along with what I already have especially being a single parent of two kids.
I owed 407K and it sold for 319K. My mortgage lender is not sueing me it is someone called MTGLQ Investors, L.P.
I guess I only thought they went after people who took out loans on their mortgage.
But my house didn’t sell under a short sale..it sold after it went into foreclosure. I tried a short sale but could never get it sold so eventually it went into a forclosure.

Technorati Tags: bankruptcy, forclosure, Foreclosure, investors, lawyers, letter in the mail, loans, mortgage lender, single parent

I have had property sit for sale on the market for nearly two years. I can’t manage the payments and have just been sent a letter that it will be forclosed and auctioned soon. This is fine, but I can’t find any info on what my penalty may be on my credit and for how long? My mortgage company has been zero help in forbearance, so at this point forclosure sounds great.

Technorati Tags: forbearance, forclosure, mortgage company

I am facing forclosure on my house here in Arkansas. My payments have gotten too high, and i can’t afford to keep making them on my current income. If they do foreclose on the property, and i owe a remainder on that amount, what are the options they will give me to repay the amount? Will i be given the opportunity to make payments on the remaining balance? Will they garnish my wages?

I have searched on what happens after foreclosure in arkansas and can find little more than what happens during the process.

Technorati Tags: forclosure, remainder, wages, what happens after foreclosure

my home went through forclosure and was sold. I had a second loan on the house and the loan company sent it to a collection agency to try and collect. I believe there is a law that would prevent them from being able to collect on the second.

Technorati Tags: forclosure, loan company

my home went through forclosure and was sold. I had a second loan on the house and the loan company sent it to a collection agency to try and collect. I believe there is a law that would prevent them from being able to collect on the second.

Technorati Tags: forclosure, loan company

I am faced with the fact that I may be losing my
home because I can’t afford my morgtage payments.

On one hand, I could let the bank take over and I
would then have to go elsewhere to live.

What are the pros and cons of a forclosure?

I have small kids at home and it makes it quite difficult
to be in this position. What are my options? Any ideas??
Thanks a million!!

Technorati Tags: forclosure, pros and cons, small kids