How Does Short Sale Affect Credit?
On average, short sales credit damage ranges from 30 to 200 points, while foreclosures pull one's score down by at least 300. It mostly depends on the borrower's situation, particularly the default which prompted the short sale. In fact, there's very little connection between short sale and credit ratings - the drop results more from the missed payments than from the short sale itself. Since one technically doesn't h ave to be in de fault to apply for a short sale, sometimes there’s little to no short sale credit damage at all.
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