Can I Minimize Short Sale Credit Damage?
Understanding the link between short sale and credit is the first step to reducing the damage. Call up your lender and ask how they treat short sales, particularly in terms of reporting to the credit bureaus. Some lenders require you to be in default before applying; if this is the case, make the application as soon as you're eligible so you can stop the drop before it becomes too drastic. Finally, work with a professional specializing in short sales and credit - you'll not only get it done faster, you’ll also find ways to get what you need with as little damage as possible.
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