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late with your mortgage payments: 7 things I learned doing short sales for past 3 years - 09/10/09 02:08 PM
My Agents and I have done a lot of short sales in Myrtle Beach.  I concur with Joe on many points.  Although a short sale will reflect negatively on the seller's credit, it doesn't have nearly the impact of a foreclosure, or even a voluntary foreclosure (deed-in-lieu of foreclosure). 
On the Credit Report a Short Sale shows as a "Settled Debt" and can stay on there for four to six years.  The Short Sale itself does not adversely impact the credit; the late mortgage payments do. 
Can you do a Short Sale without being late with your mortgage payments?  It depends.  … (3 comments)

 
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Myrtle Beach Real Estate by Mirela Monte

Myrtle Beach, SC

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Mirela Monte, Your Myrtle Beach Real Estate Connection

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