Getting another house after Chpt 7?

[nadnerb]

What is the name of your state?Texas
Our chpt 7 bk was discharged 04/2004, our mortgage was not reafirmed, we need to get out now, but we can not sell it for what we owe on it. We stopped making payments, I believe it will show up as a foreclosure. My question is, how hard will it be to get another house in a couple of years with that foreclosure on our credit? Since we didn't reafirm, will that help in getting a house? Thanks for any input.

[Rhubarb297]

Originally Posted by nadnerb

What is the name of your state?Texas
Our chpt 7 bk was discharged 04/2004, our mortgage was not reafirmed, we need to get out now, but we can not sell it for what we owe on it. We stopped making payments, I believe it will show up as a foreclosure. My question is, how hard will it be to get another house in a couple of years with that foreclosure on our credit? Since we didn't reafirm, will that help in getting a house? Thanks for any input.

Sounds like you need to talk to the mortgage company about giving them a deed in lieu of foreclosure. By the way, I've seen people get decent rate mortgages (less than 7 percent) six months out of Chap 7 BK. I don't think they should be able to, but they do.