Going to sell my home on a short sale, I have questions .?

I’m going to have to sell my home on a short sale. I have found out that the home is not worth what I paid for it 5 years ago with 20K down on it now. If your in finance or have been thu this your Information will really help me out a lot.

I had great credit yesterday on my credit report. I’m at 770 av. on the three big ones. Medical reasons and then loss of her job and we are going up side down. No savings left now.

We got in touch with the lender, we got a run around, three hours late were hiring a Lawyer type lender/provider service for help with dealing with them and setting up a short sale. It is listed now for the tax value of the home and land only. About 80K short when it is all done.

We don’t want to file bankruptcy.

Questions:
Will the short sell clear us out on the home or will we end up having to file bankruptcy to clear it off?

Were will our credit score go to now? (were at 770 today)

If it doesn’t sell, we can only pay our other bills with help from a doctor friend, so when are we on the street?

Anything else you can tell us about this and the out come would be helpful,
Thank you
John
We have talked to the lender and they will not work with us until were behind three months in the rears. We will be 3500. a month short until the work returns to this aera of the country. (WA)

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