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

Asked over 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


    Lawyers agree

    Answered . The foreclosure will negatively affect your credit score.

  2. Terrence Michael Fogarty Jr.

    Contributor Level 8


    Lawyer agrees

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

  3. Deborah Gwen Roher


    Contributor Level 14


    Lawyers agree

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

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