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Is it better to short sale a house or refinance to get credit in good standing?
It's better to refinance. A short sale will reflect negatively on your credit record.It's better to refinance. A short sale will reflect negatively on your credit record.It's better to refinance. A short sale will reflect negatively on your credit record.It's better to refinance. A short sale will reflect negatively on your credit record.
Will a short sale ruin my credit score?
Yes, a short sale can negatively impact your credit score as it is considered a derogatory mark on your credit report.
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 afford the obligations of a loan. The amount of time a short sale is on a credit report can be answered by a lawyer who is assisting in the short sale. A short sale may hinder future loans.
How long does a short sale stay on your credit?
10years...
How does a short sale affect your credit score?
A short sale can negatively impact your credit score because it indicates that you were unable to pay off your mortgage in full. This can result in a drop in your credit score, making it harder to obtain credit in the future.
How does a short sale affect your credit?
A short sale can negatively impact your credit score because it shows that you were unable to pay off your mortgage in full. This can result in a drop in your credit score, making it harder to qualify for loans or credit in the future.
How does a short sale impact your credit score?
A short sale can negatively impact your credit score because it shows that you were unable to pay off your mortgage in full. This can result in a drop in your credit score, making it harder to get loans or credit in the future.
How will a short sale impact my credit score?
A short sale can have a negative impact on your credit score, as it indicates that you were unable to pay off your mortgage in full. This can result in a drop in your credit score, making it harder to qualify for loans or credit in the future.
How does a short sale affect credit?
A short sale can negatively impact a person's credit score because it indicates that they were unable to pay off their mortgage in full. This can result in a drop in credit score, making it harder to qualify for loans or credit in the future.
How will a short sale effect your credit score?
A short sale can have a negative impact on your credit score because it indicates that you were not able to repay the full amount of the mortgage. It may lower your credit score by several points, depending on your current score and credit history. However, the impact may be less severe than a foreclosure.
Is a short sale better than foreclosure?
In most cases it is preferable to foreclosure. I disagree. A short Sale has less impact on your credit score than a foreclosure.
Does a short sale affect credit score?
A short sale takes place when a lender accepts less than they are owned on a loan secured by a property in the US. In most cases the borrower was already in default on the loan prior to the agreed short sale. The lender will have already reported the late payments or default and there likely was credit damage. The short sale can be recorded as paid as agreed or various other language. A short sale might show as a negative. Or it will show as the loan being paid off after a number of late payments so the credit file shows an account going bad and then no further activity on that account. A short sale is much better than a foreclosure or bankruptcy filing on one's credit report. Late payments are normally the only real sign of a short sale and late payments have an impact for approximately 12 months before a credit score starts to improve. When dealing with your credit report check it yearly and challenge all items that are not accurate.
