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REAL QUESTIONS - HOW DOES A SHORT SALE AFFECT CREDIT SCORES???
In a discussion today with a client we addressed the question of credit scores and short sales.  This is a hot topic and there is information everywhere on what happens and when and for how long.  No where have I found information that I would swear by, and for this reason I am posting this Blog.
The question is, "HOW DOES A SHORT SALE AFFECT CREDIT SCORES?"  The obvious follow up question is, HOW DOES A FORECLOSURE AFFECT CREDIT SCORES?"
My client had a discussion with someone who says they have experience with the ISAAC scoring methods, and here is the email (in somewhat redacted form to protect names).  Please discuss in this Blog what your REAL experiences are with this subject -- PLEASE - NO SUPPOSITION.
The email goes like this:
A short sale will be reported as "settled," but that's not good.  Settled is considered seriously negative by scoring models. It would be better if they just showed it as paid $0 balance and left it at that.  But you won't have any say so over how they report it.
I know you're getting conflicting info but the only source that you should be listening to is someone from ... more

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