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foreclosure: Will a Short Sale Damage Your Credit Less Than a Foreclosure? - 11/28/07 12:21 AM
As real estate values continue to sag, pushing many home owners toward foreclosure, one question surfaces more than any other. Will a short-sale damage your credit less than a foreclosure?
REWIND
I wrote a couple of articles awhile back entitled, Short Sales vs. Foreclosures…Your Credit Will Suck Either Way and Short Sales and Loan Prospector: A Response From Freddie Mac. At the time–nearly a year ago–my preliminary investigation suggested that short sales and foreclosures would have exactly the same effect on credit. But back then, this issue was just reclaiming the spotlight, and no one had really given it much thought. … (1 comments)
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foreclosure: The Dark Cloud Over Sacramento Real Estate Has a Silver Lining - 04/21/07 10:56 AM
For those who missed it, the Sacramento Bee posted this article Tuesday. The 80 or so comments that follow the article make for a lively and sometimes ugly discussion. Not particularly cheery, but there is a silver lining.
Foreclosures in full boom In ominous sign of more to come, capital region default notices also hit record highs during first quarter of 2007. By Jim Wasserman - Bee Staff Writer Last Updated 1:11 pm PDT Tuesday, April 17, 2007Story appeared in BUSINESS section, Page D3
There’s a new kind of “For Sale” sign appearing in the region’s neighborhoods — offering property … (0 comments)
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foreclosure: Short Sales and Loan Prospector: A Response from Freddie Mac - 01/24/07 06:44 PM
What effect will “short sales” have on a borrower’s credit and ability to secure another home loan? Without the public Notice of Default that precedes a foreclosure and notifies the credit bureaus, will “short sales” slip under the automated underwriting radar? In my earlier post Short Sales vs. Foreclosures….Your Credit Will Suck Either Way, I summarized the initial responses to the questions I had run up the capital markets flagpole. Yesterday, I received this answer from Freddie Mac about the way Loan Prospector, its automated underwriting system, will react to the typical short sale comments found on a borrower’s credit report. The answer was … (2 comments)
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Marc Brinitzer
Sacramento,
CA
More about me…
Big Valley Mortgage
Office Phone: (916) 791-3760 x 340
Cell Phone: (916) 761-3760
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