Posted on: 15th May, 2009 04:14 pm
We are having to sell our house with a short sale because of a transfer. The difference will end up being about $70000. How will a short sale be listed on our credit report? We haven't missed any payments, will we be able to purchase a new house in the area we are being transferred to?
Hi we4bears!
Welcome to forums!
A short sale will be listed as a negative item on your credit report. It will remain on your credit report for 7 years. You will not be able to immediately purchase a property in the area where you are being transferred. You'll have to wait for at least 2 years to get a home loan.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
A short sale will be listed as a negative item on your credit report. It will remain on your credit report for 7 years. You will not be able to immediately purchase a property in the area where you are being transferred. You'll have to wait for at least 2 years to get a home loan.
Feel free to ask if you have further queries.
Sussane
Agree with Smith.
But I have solution for you.
You can give your house on rent and purchase new house with the help of home loan at new place
But I have solution for you.
You can give your house on rent and purchase new house with the help of home loan at new place