How long is the recovery period after foreclosure and short sale?

Below is a chart that will outline how long credit recovery may take after foreclosure or short sale.  Since more than 50% of the population has had or will have one of these experience, it might be a good idea for credit bureaus to revise this.  Or, eliminate it all together.  Many of the people caught in the bank, credit agency, insurance company and government devised scam should not be penalized for their participation.   Waiting Period Chart TBWS

IRS Summertime Tax Tip 2011-15, August 8, 2011

The Internal Revenue Service has some important information to share with individuals who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may qualify to exclude all or part of that gain from your income. Here are ten tips from the IRS to keep in mind when selling your home. In general, you are eligible to exclude the gain from income if you have owned and used your home as your main home for two years out of the five years prior to the date of its sale. If you have a gain from the sale of your main home, you may be able to exclude up to...