[quote=sdrealtor]Exactly and that cost can be very high. I just remebered that I actually did a short sale for a doctor. He was a Navy flight surgeon with no school debt working at Balboa. He bought a house with an incredible view in South Park. He put 10% down, spent about $50K of his own money fixing it up the and then got sent over seas for the next 3 to 5 years where his kids will grow up away from their cousins and grandparents. . . [/quote]
Why couldn’t this Navy doctor and spouse rent out their nice South Park home while they were gone and save their credit report from a derogatory “short-sale” mark? Lots of military families do this. And why did they purchase it and then spend money fixing it up if they KNEW they would be subject to change-of-station orders? How long did they actually own the property? Somebody made some bad decisions or was a bubble-purchaser, or both.
