Just to clarify, you can recover your credit much faster from a short sale, than a foreclosure or bankruptcy. Also, it is a little harder, but you can negotiate a short sale without being late, I am doing one right now, it is due to a job transfer. Any questions, give me a call - 954-494-2387, Charl

Charl,

I have a home in Orlando but had to move out because of job lose, we have renters now but doing a short sale do I need to be living in the house?

I purchased my home for $250,000.00 in summer 2007, and brand new ones similar to my 3bs/2bs in 32824 are $115,000.00. Willow says it is worth $130,000.00, and I owe the bank $150,000.00. I put my, and my parents (both deceased now) entire savings as a down payment. I have been fighting with Countrywide/BOA for two years now, and still do not have a modification. I suggest you get a loan modification, and remain in your home. I am not an attorney, but understand now that lawyers are filing for bankruptcies and get a Judge to reduce the principal like any other debts. You should contact a lawyer for a consultation about it, but be very careful and they are not all honest human beings.