I've also learned that the bank(s) don't "have to" file a "charge off" on their credit ... if during the final negotiations with your Loss Mitigator / underwriter tell him or her ... note: don't ask ... tell him or her to make sure that they will note on the seller's credit "Debt paid as agreed" Whether your a debt forgiveness state or not this should work and help the seller be able to utilize their credit even sooner.

It's true ... the banks wouldn't sell if they didn't agree to take a lesser payment for the property, true? "Debt paid as agreed".

Hope this helps.

__________________
Troy A. Brown
Real Estate Consultant & Short Sale Specialist
Keller Williams Realty St. George
435-669-5521 cell
troy@realtor-ut.com