Co Signer and BK and short sale....
Married couple files BK. Home is paid through and was not going to be part of the potential discharge but BK is ultimately dismissed. Home continues to be paid and then couple agrees to short sale with lender and sells the home. Co signer of the home loan is another party (not one of the married couple and not a party to the BK) signed off on the short sale so that is not my question - but co signers credit report shows that home was included in BK. That is wrong - right? The home should be listed just as it is on the other borrowers credit report "settled for less than owed". Right?
And when you are a co signer on a home loan that is short sold, you have to wait the same time period that the primary borrower has to for a new home loan? So if FHA says three years, for example, from the short sale of a home to do a new loan, that is for ANY borrower on the short sold home?
And when you are a co signer on a home loan that is short sold, you have to wait the same time period that the primary borrower has to for a new home loan? So if FHA says three years, for example, from the short sale of a home to do a new loan, that is for ANY borrower on the short sold home?