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How long does a short sale affect your credit?
Wiki User
September 13, 2011 12:32AM
Iam bout to lose my house soon, getting divorce!. is it recommended to do a short sale? I am concerned about 1099-C taxes I have to pay to IRS and how bad my credit will be if I want to get a cheaper property later on. does enybody know how much afeccts short sales, is it better than a foreclosure!
Thanks
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What happens to your credit on a short sale?
A short sale will have a detrimental affect on your credit
record but not as bad as a foreclosure.
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How long will you credit be messed up if you are doing short sale?
A short sale is an option when a property owner is not able to
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Is it better to short sale a house or refinance to get credit in good standing?
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Short sale or foreclosure?
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Asked in Real Estate
Does a short sale affect credit score?
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Will it affect my credit if I short-sale a house that I own but do not have my name on the mortgage?
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Should I short sale my house or wait for it to be auctioned?
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Foreclosure vs short sale?
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questions, just ask.
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What is a short sale?
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The affect of a short sale on a home owner's credit report is
much less damaging. The negative on credit may show up as a
pre-foreclosure in redemption status, which will result in a loss
of around 80 points from the FICO score. It can also simply show up
as the loan was paid off and not affect your score at all. This
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