Included my home in chapter 7 in 2009. Did not reaffirm, but still live here. Home is still upside down. We stopped paying last year and they started the foreclosure process. We were then told about the "short pay" option that would allow us to stay. Instead of walking away we put in a "short pay" offer. If they accept the offer they will else the lien and we would own it free and clear. We have spent the last 9 years building our credit and want to make sure there's no issues getting another mortgage.
1) where (if anywhere) will this short payoff show up ? Credit report, title, different report?
2) will there be a waiting period before i could get a mortgage like there is with a foreclosure?
You need to meet with an attorney. This sounds like a possible scam. Meet with an attorney and negotiate only through your lawyer's office.
You are being SCAMMED! You need to retain the right type of attorney now! Only an IL mortgage foreclosure defense and bankruptcy attorney has the expertise to prevent you from having more problems than you can possibly imagine. To properly answer your questions and address your concerns, the best way to handle this is with an in person consultation. You need to retain the best mortgage foreclosure defense and bankruptcy attorney you can afford. You should not be restricted by geographic factors. Pick the best lawyer you can find and remember one rule: a good lawyer is generally never cheap, and a cheap lawyer is generally never good so don't choose based on price. You should not be restricted by geographic factors. THIS IS NOT LEGAL ADVICE! YOU NEED TO SPEAK TO AN ATTORNEY WHO IS LICENSED IN YOUR STATE FOR LEGAL ADVICE. This is merely suggestions for you to think about in discussing your situation with the local attorney.
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