The 2nd. lien holder, Citibank is not answering our requests.We finally have word from WAMU (1st. lien holder) that they will approve the short sale if and only if Citibank will give them a written agreement to discharge 2nd. lien for $3,000.

Assuming the BK court allows the short sale, the pragmatic lender will issue a 1099C in lieu of seeking a deficiency judgment, Should the lender get the BK court's approval to obtain a deficiency judgment, the judgment will be added to the debtor's repayment plan and not discharged.

This works the same for all credit activity, in that the BK card will get hit harder on the numbers which is tough since they are lower to start with.If the BK was discharged 09/05 it will be a long time before it gets high but that is a good thing because it is that way so that the person takes it slower and gets a chance to learn to manage their finances unless of course they just had some misfortune of getting hit with an illness and a bunch of medical bills took them down.

She had a Chapter 7 bankruptcy, which was discharged so that doesn’t affect me. 

I have spent hours on the site looking for opportunities but am not sure exactly what the best property to look for is.When searching through the public records for a particular town, there is a column that says "type description" and lists things such as "discharge, mortgage, affidavit....etc.  

I have a 720 fico, make good money but have a BK (discharged in 2010) and a foreclosure that was tied to the BK ( but is listed as 2014).

I've seen sites with minor leaking etc that could still meet standards if they install monitoring wells and pump the contaminated water out for cleaning and then discharge.

Minimum of 2 years from Chapter 7 or 13 bankruptcy discharge Minimum of 3 years from Preforeclosure, short sale, deed in lieu, foreclosure from discharge date or release date.Down Payment Requirements The borrower is required to make a minimum down payment into the transaction of at least 3.5% of the lesser of the appraised value of the property or the sales price.

Your situation is very specific and getting bad advice could cost you severely.When you speak with your attorney, ONE of the questions you will want to ask is if the 2nd was discharged.

I quote right from the IRS website " Update Dec. 11, 2008 — The Mortgage Forgiveness Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence.