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lauramariegrodsky · Joined: 16 Jul 2009 Posts: 5 3.14 Dollars($)

I live in California and did not reaffirm my home loan in my chapter 7 bankruptcy. If I walk away from my house and do a deed in lieu of foreclosure, will that be seen in my credit reports? What is the procedure of getting a deed in lieu of foreclosure? If I am going to buy another house, and if the deed in lieu of foreclosure will affect my credit score, should I wait until I buy the second house before I do the deed in lieu of foreclosure on the first house?

aksh12th · Joined: 30 Jun 2009 Posts: 49 0.28 Dollars($)

IF you want to save home then you can go to chapter 7 rather than bankcrupcy?
But if you go to this way , you affect u r credit. so try to avoid this way...

Thanks

priyaforum · Joined: 21 Jul 2009 Posts: 26 3.34 Dollars($)

Thanks
Priya

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How much does the chapter 7 protect me?