I was forced into a short sale due to a divorce. It was court ordered, I worked with the lender and the home sold in Jan 2010. Because of the amount of support ordered I was unable to make the payments on the house during that period. I also stayed in communication with the lender on that problem. On my report it simply states the house was sold as agreed for less then owed. I did see reports of the late payments on the house. My credit score is 690 and I have no other credit issues or late payments. I would like to buy a home in the 80K to 120K range in a 55+ community. How long do I have to wait, how much down would be required etc???
Do you have any advice for RodTod11 or anyone else in a similar short sale situation?