Weird things about the name Kevin: Your name in reverse order is Nivek. A random rearrangement of the letters in your name (anagram) will give Ievnk. How do you pronounce that? How many people have the last name Kevin? In 2010, the U.S. Census Bureau surveyed 352 people with the last name Kevin.
Usually, a foreclosure requires five to seven years before the borrower is eligible for another mortgage. The short sale will stay on your credit for up to seven years and can affect the ability to open credit cards and other loan accounts. If you decide a short sale will be right for you, and your lender agrees to it, then you will see an immediate drop in your score once the lender reports it the credit bureaus.
Angie there are too many variables to guess. Most properties close within 30-45 days from it going under contract, cash sales will close quicker, conventional loans take about 30 dasy with fha loans taking about 45 days. If it is a short sale that was just put under agreement it could be 45 days up to 6 months. hope the sale you're referring to isn't one that type of sale. The banks aren't playing ball very well. I've had short sales get approved within two months, and others that have taken six months. I wish there were a magic answer for that question. If there is good news to be had, short sales are getting approved.