Short Sales and Their Impact On Your Credit Score:
Short Sale and the impact on credit Scores
No one can tell you the exact outcome of your credit score since your credit is affected by many variables and add the fact that the FICO score is a constantly evolving process and changes over time.
Understanding also that your credit is also a credit rating composed of three different credit reporting agencies: Equifax, TransUnion and Experian.
How does a short sale affect your credit?
I can begin with comparison to the "Other" alternatives, the foreclosure and a deed in lieu of foreclosure. Based on reports and my experience, a short sale is about 200 points less damaging to your FICO score compared to a foreclosure.
Short sales do not impact your credit scores directly by the actual short sale but the months of late or no payments made on your mortgage leading to the short sale itself.
Of course the less number of late payments, the better your “credit report”…to a certain degree.
A foreclosure will remain on a credit report for about 7 years, while a short sale could only affect you 2 to 3 years
Fact:
A short sale is the most sensible thing to do if you qualify. . .
www.Short-Sales-Expert.com
Click on my eBook about Short Sales.. .you will have a clearer vision when you are contemplating a short sale as an option.
Why Should You Call Us If You Are Short Selling Your Home?
Fernando Herboso is a Certified Distressed Property Expert
and a Gold Member Certified Default Resolution SpecialistTM with (CDRS)
You can reach me (Fernando Herboso) by calling him directly@ 240-426-5754
or email : Fernando@Herboso.com
We can serve you in Maryland, DC or Virginia
How Much A Short Sale Cost Me After All?
Short Sales Maryland
Short Sales and Their Impact On Your Credit Score:
Short Sale and the impact on credit Scores
No one can tell you the exact outcome of your credit score since your credit is affected by many variables and add the fact that the FICO score is a constantly evolving process and changes over time.
Understanding also that your credit is also a credit rating composed of three different credit reporting agencies: Equifax, TransUnion and Experian.
How does a short sale affect your credit?
I can begin with comparison to the "Other" alternatives, the foreclosure and a deed in lieu of foreclosure. Based on reports and my experience, a short sale is about 200 points less damaging to your FICO score compared to a foreclosure.
Short sales do not impact your credit scores directly by the actual short sale but the months of late or no payments made on your mortgage leading to the short sale itself.
Of course the less number of late payments, the better your “credit report”…to a certain degree.
A foreclosure will remain on a credit report for about 7 years, while a short sale could only affect you 2 to 3 years
Fact:
A short sale is the most sensible thing to do if you qualify. . .
www.Short-Sales-Expert.com
Click on my eBook about Short Sales.. .you will have a clearer vision when you are contemplating a short sale as an option.
Why Should You Call Us If You Are Short Selling Your Home?
Fernando Herboso is a Certified Distressed Property Expert
and a Gold Member Certified Default Resolution SpecialistTM with (CDRS)
You can reach me (Fernando Herboso) by calling him directly@ 240-426-5754
or email : Fernando@Herboso.com
We can serve you in Maryland, DC or Virginia
How Much A Short Sale Cost Me After All?
Short Sales Maryland
Short Sales and Their Impact On Your Credit Score:
Short Sale and the impact on credit Scores
No one can tell you the exact outcome of your credit score since your credit is affected by many variables and add the fact that the FICO score is a constantly evolving process and changes over time.
Understanding also that your credit is also a credit rating composed of three different credit reporting agencies: Equifax, TransUnion and Experian.
How does a short sale affect your credit?
I can begin with comparison to the "Other" alternatives, the foreclosure and a deed in lieu of foreclosure. Based on reports and my experience, a short sale is about 200 points less damaging to your FICO score compared to a foreclosure.
Short sales do not impact your credit scores directly by the actual short sale but the months of late or no payments made on your mortgage leading to the short sale itself.
Of course the less number of late payments, the better your “credit report”…to a certain degree.
A foreclosure will remain on a credit report for about 7 years, while a short sale could only affect you 2 to 3 years
Fact:
A short sale is the most sensible thing to do if you qualify. . .
www.Short-Sales-Expert.com
Click on my eBook about Short Sales.. .you will have a clearer vision when you are contemplating a short sale as an option.
Why Should You Call Us If You Are Short Selling Your Home?
Fernando Herboso is a Certified Distressed Property Expert
and a Gold Member Certified Default Resolution SpecialistTM with (CDRS)
You can reach me (Fernando Herboso) by calling him directly@ 240-426-5754
or email : Fernando@Herboso.com
We can serve you in Maryland, DC or Virginia
How Much A Short Sale Cost Me After All?
Short Sales Maryland
Fernando Herboso is a Certified Distressed Property Expert
and a Gold Member Certified Default Resolution SpecialistTM with (CDRS)
You can reach me (Fernando Herboso) by calling him directly@ 240-426-5754
or email : Fernando@Herboso.com
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