short sale credit: Report: Short Sales and Your Credit Score - 01/26/10 06:45 PM
Curious what will happen to your credit score after a short sale?
The answer is… it depends. How many mortgage payments did you miss? How much debt do you have? What is your outstanding balance to available credit ratio? What is your overall payment history? Your “point” impact will be calculated by FICO based on these and several other criteria. Here is an actual example of how a short sale affected my Destin short sale seller’s credit score.
Property: Destin short sale condo – investment property (not owner occupied)
Lender: Aurora Loan Services
Number … (17 comments)
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short sale credit: How To Improve Your Credit Score After Short Sale or Foreclosure - 01/18/10 03:56 PM
Are you one of the many Americans recently affected by financial woes? Have you missed payments, racked up your charge card, gone through a short sale, foreclosure or bankruptcy? As a result, your credit score has probably dropped, maybe substantially. If so, there is a great resource that may help you rebuild your credit.
MyFico.Com is a website recommended by my favorite financial guru, Suze Orman. MyFico will allow you to monitor your score and will send you email alerts whenever your score might be affected, for example:
1. You increase your balance on your charge cards (higher overall debt)
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short sale credit: How Will A Short Sale Affect My Credit Score? - 09/16/09 07:22 PM
Curious what your credit score will drop when you do a short sale? You’ll often read on the internet 80-100 points, sometimes less. Guess what? Sometimes it is more. I just received this email from one of my Santa Rosa Beach Florida short sale sellers. I sold his home a few months ago. I had asked him to check his credit score before and after the short sale. Here is his email:
“Checked on my credit score with Transunion and went from 780 (Excellent top 2 percent) to 633 (Rated poor to good). I was anticipating somewhere around 680 … (12 comments)
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