Thank for responding back. The answer to all of your questions is it was "suggested" that I needed to be late at least two months. So I

Asked by Thandaman22, Santee, CA Thu Feb 9, 2012

did. The individuals who helped me through the process said that I needed to be late for two months before the bank would even consider a short sale. I had never missed a payment in the 20 years of owning homes in California and Nevada so this was not something I was use to. I short sold the house because I received a great job in San Diego. As the rest of the market, the value was a fraction of what we owed. When it did sell the bank forgave the balance due. San Diego is where I will be retiring and not looking to move again. I have a very stable job and want to plant roots.

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Vito Lotta, Agent, El Cajon, CA
Fri Feb 10, 2012
Hi Thandaman,

The first thing I would suggest is to pull your credit report. I suggest "". I am working with a couple clients that have done short sales and their credit reports do not reflect any updated information. The reason you want to make sure everything is updated as soon as possible is because a line item that hasn't had any negative reporting in the past two years isn't as bad on your score. If you wait the three years and then find out you need to fix it that line item will become a current reported line which will affect your credit score more. As for buying a new home it does depend on the type of loan you are looking for.

Please let me know if you have any other Questions, I am an Agent in Santee and also a Resident of Santee since 1972
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