As an attorney, I rarely get involved when asked about anything related to credit scores or anything related to how your credit will be affected due to a short sale, foreclosure etc. I'll be frank with you, after a short sale where the average short seller has been behind anywhere from three to 12 months in payments, the seller's credit is shot for a long time. I would just guesstimate around five years, if not seven. So, therefore filing for a bankruptcy should be a serious consideration. Especially, if one still have a considerable amount of unsecured debt lying around.

Joseph Chang

*Please note that this is general information only, and not to be construed as legal advice, if you would like a consultation please feel free to call and make an appointment"
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Evan,

It appears that Dana is right on the money . .. . 2 years before u can even consider buying againt from what I am told.

Love and Peace,
Francesca Patrizio, Realtor, ePro
Serving Monmouth / Ocean County, NJ
Francesca@PatrizioRE.com

Your realtor is correct. Actually the wait will probably be at least 2 years. late payments are not the issue--the issue is that your lender had to take a loss on your short sale and could choose to come after you for repayment of this loss.