Will a foreclosure on my credit report affect my credit score? The mortgage was discharged in Ch7 bankruptcy.

Asked about 1 year ago - Alton, IL

Mortgage was discharged in Ch 7 bankruptcy and shows $0 balance on credit report. My credit score is almost 700. The bank will now go through the foreclosure process to release the lien of the property in my name (post bankruptcy discharge date). I know this will be public record. Does this affect my CREDIT SCORE at all? That's my main concern.

Attorney answers (3)

  1. Judy A. Goldstein

    Contributor Level 20

    2

    Lawyers agree

    Answered . The foreclosure will negatively affect your credit score.

  2. Terrence Michael Fogarty Jr.

    Contributor Level 8

    1

    Lawyer agrees

    Answered . Yes. Both the bankruptcy and the foreclosure will affect your credit score.

  3. Deborah Gwen Roher

    Pro

    Contributor Level 14

    2

    Lawyers agree

    Answered . Yes, bankruptcy is a derogatory event which will harm your credit score.

    Disclaimer: This site exists to provide information only. It is not legal advice. Answering your question does... more

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

24,495 answers this week

2,675 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

24,495 answers this week

2,675 attorneys answering