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Credit After Santa Cruz Short Sale - 11/30/11 10:07 AM
Here is what our State legal services posted about your question:
Credit After Foreclosure, Bankruptcy, or Short Sale
Member Legal ServicesTel (213) 739-8200Fax (213) 480-7724Aug. 4, 2010 (revised)
One of the concerns a consumer has after experiencing a bankruptcy, foreclosure, or short sale (referred to as a "preforeclosure sale" by Fannie Mae when the owner is in default) is the ability to obtain credit to purchase another home. Fannie Mae has updated its credit guidelines in the FNMA Selling Guide, June 30, 2010. [ Note: This is a 1,234 page PDF document that takes a long time to download.] … (3 comments)

Research looks at how SHORT SALES affect scores - 11/30/11 09:58 AM
Research looks at how mortgage delinquencies affect scores How much impact does a short sale have on FICO® Scores? How about a foreclosure? Since I frequently hear these questions from clients and others, I thought I’d share new FICO research that sheds light on this very subject.The FICO study simulated various types of mortgage delinquencies on three representative credit bureau profiles of consumers scoring 680, 720 and 780, respectively. I say “representative profiles” because we focused on consumers whose credit characteristics (e.g., utilization, delinquency history, age of file) were typical of the three score points considered. All consumers had an active … (0 comments)

Your Reputation is Only as Good as The WORST Thing You’ve Ever Done - 11/10/11 11:03 AM
I loved this blog post and decided to spread it around and let it reach more people. I sometimes wonder why I bust my butt on the little things and this is why.
Via Howard and Susan Meyers (The Hudson Company Winnetka and North Shore):
Your Reputation is Only as Good as The WORST Thing You’ve Ever Done
    Yes, let me repeat that...Your reputation is only as good as the WORST thing you’ve ever done.  This is true in all aspects of life.  In the real estate business, your reputation is everything.  It provides you a platform for maintaining and growing your business. … (0 comments)

 
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Patti Lyles, Santa Cruz County Short Sale & REO Agent (831) 335-2100

Santa Cruz, CA

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Century 21 Showcase, REALTORS®

Office Phone: (831) 335-2100

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