Ok, I'm hearing mixed opinions and information about the effects of short sales on credit reports. What are you guys seeing throughout the country with different lenders? Are you seeing different lenders report short sales differently or are most the same.

One of the original major benefits of a short sale was the smaller effect that they had on credit scores versus a foreclosure.

I'm just trying to gather information from other CDPEs on this so that my partner and I can better serve our short sale clients. Thankfully, we are in Mississippi and it is illegal for a lender to pursue a deficiency judgement against a borrower after a short sale. However, there are many questions about the credit report. Please fill me in on what you are seeing out there!

Thanks for you input and response!

Clint Bolton

Broker Associate, Auctioneer, CDPE

RE/MAX Advantage, Hernando, MS