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Any way out of this mess?


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I was divorced in 03, my ex was to refinance the house 90 days after the divorce, she wasnt able to do this due to her bad credit. knowing this I included the mortgage company in my chapter 7 bk. The house has since been foreclosed on. The mortgage company tried to come after me for the money but once I showed it was included in my bk, they dismissed me from the foreclosure proceedings. Now I am trying to get a new mortgage, and have been told that since I included the mortgage in my bk, it was still considered a foreclosure by the lender and was denied credit for my new home. I talked with the lender and explained, and I know that a divorce doesnt exclude me on the old mortgage, but I filed contempt charges on my ex to get the house refinanced, she spent time in jail and was fined, but still the house was not refinanced and I am now stuck with this for 7 years? I asked the lender what I could do. he said your out of luck, no one will finance you at a good rate because of the foreclosure. Even though I took all legal steps that I could to get off the mortgage. quit claim deed/ filed contempt charges, etc. And suggestions, thoughts?

Thanks,

dadov3 in Ohio

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If they reported it as a forclosure on your reports AFTER the date of your bankrutpcy they are violating the permanent injunction of your discharge. There can be NO negative reporting on a discharged debt, no matter what they migh have done after you filed.

Have you engaged in any credit repair since your bankruptcy ? You really must and this is lesson in why. You MUST dipsute that 'forclosure' it is a violation of the bK law. You must also dispute any and all tradelines that are not showing a ZERO balances, do not say 'included in bankruptcy' and are showing any negative remarks after your bankrupty.

You must also work on rebuilding new credit.

Lastly, the guy who told you you would never get a mortgage at a decent rate is wrong. Shop around.

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It is not being reported on my credit reports as a foreclosure, just that it was included in bk and it is an FHA loan. As for credit repair, I have been working on this for the past year, my credit scores where 610,623,632 but since shopping for a mortgage they have dropped to 554,568,623. I am still disputing information on my reports as some of the scores are saying they are low due to my recent deliquency, some of the "included in bk" accounts are showing dates of April 06. They all now say zero balance and included in bk. although a couple are still showing late payments, disputing this as well. I have a joint car loan, and one credit card, I am not applying for anything else until after getting a mortgage. I am attempting to get a VA loan, and am told because lenders will consider the FHA a default that I will be turned down for VA.

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