I filed Chapter 7 and remained in the home for a while on a pay and stay basis and then went into foreclosure. My 6 month redemption period is coming to an end soon. What happens if I am not out by the end of the redemption period? If they start the eviction proceedings how long do I have and does the eviction go on my credit report also?
If you are not out by the end of redemption period, then the eviction proceedings will start. You will receive an eviction notice and there will be a deadline of when the lender wants you out of the home. An eviction is not a credit issue so it would not be reported to the credit bureaus, but foreclosure is a credit issue and will get reported.
Tara Moody-Nichol is licensed only in the State of Michigan. All answers provided relate only to Michigan law and are made for general information purposes ONLY. They are NOT intended to be legal advice and are NOT intended to create an attorney-client relationship between Ms. Moody-Nichol and any readers or subscribers to avvo.com. Tara Moody-Nichol Attorney at Moody & Nichol, PLLC East Lansing, MI (517) 583-0520
Eviction does not go on credit report. Bank should report status of loans as discharged in bankruptcy, not as foreclosure because you did not reaffirm the loan(s).
Advice on this forum is for informational purposes only and should never be mistaken as a substitute for legal advice. If you are in need of legal advice, you should consult local legal counsel.
Eviction is a judicial proceeding. Lawsuits against you DO get reported on your credit report.
Mr. Goldstein is a Virginia-licensed attorney only. The information is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. Answering this question does not in any way constitute legal representation. Contacting Mitchell Goldstein or the Goldstein Law Group does not constitute legal representation, nor is any information you provide protected by attorney-client privilege until otherwise advised.
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