@Anonymous wrote:I went through a short sale that was finalized in April of 2011. I'm surprised because the CRAs are saying that it will come off my record in 4/2016 -- 5 years after the short sale. I thought short sales stayed on for 7?
The time it can remain on file is 7.5 yrs from the accounts DoFD so if it took some time to actually sell it would be less time at final disposition of the sale. If you live in NY there are laws there that would only allow it to be on file for 5 yrs from date of sale.
@Anonymous wrote:
Thanks for the response. Can you explain how DOFD works? Its generally accepted as the 30 day late that immediaely preceeds the CO and it becomes the key date once the account is actually COed.
If the account was delinquent and then was brought current again, the DOFD resets, right? yup as long as its brought current prior to the CO.
If that's the case my DOFD is 3/2011. I'm surprised they're saying it will come off so soon, but I'll take it!