short sale after BK

[monkatom]

I know normally there is no reason to do a short sale after BK if you did not reaffirm. It appears though that a short sale only carries 2 years for a conventional loan so we would be able to get a new loan once we are ready faster than if we had a foreclosure. My question is if both lenders agree to a short sale (rare I know) is there any liability on my end or just the pain of getting a realtor having the house shown, etc?
Thanks

[HHM]

If niether mortgage was reaffirmed and you BK is discharged, there is no liability. However, if you filed BK, the short sale v foreclosure debate is meaningless, the BK will be the factor that prevents you from getting financing.

[monkatom]

I guess my thinking is I could get a convetional 4 years after Bk so May 2012 I could get FHA 3 years after foreclsoure which would be at least 3 and a half years from now since we have not received an NOD yet so that would be like August 2012. So I thought I could short sale and get convetional in May 2012 as opposed to foreclosure and get FHA in August of 2012? I understand convetional has better rates and less closing costs and since we may have 20% down no PMI or we could do a CALSTRS loan which is 80% 17% deferred for 5 years and 3% down with no PMI. If we foreclose than we have a long wait before we can do convetional. Hope this maikes sense or maybe I am just being optimistic.