Loans, Debt & Credit - View Single Post

shaung · 07-01-2009, 03:43 PM

thanks for the quick response Moe.My score is about 670 and wife is about 700.I owe about 25k in debt and am thinking of a short sale with normally takes about 6 months(I think)I will not pay morgage.$2600 x 6 months= $15,600 that I can pay off.My credit will go to crap from the house but might go back up a little bit with all the debt payed off.I can ask my Dad to buy a house at fair market value in his name and
I can pay for it.Please let me know if I am wrong or what you all think

07-01-2009, 03:43 PM	#3 (permalink)
shaung Senior Member Join Date: Dec 2008 Posts: 41 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: how bad does short sale mess up credit? thanks for the quick response Moe.My score is about 670 and wife is about 700.I owe about 25k in debt and am thinking of a short sale with normally takes about 6 months(I think)I will not pay morgage.$2600 x 6 months= $15,600 that I can pay off.My credit will go to crap from the house but might go back up a little bit with all the debt payed off.I can ask my Dad to buy a house at fair market value in his name and I can pay for it.Please let me know if I am wrong or what you all think