Part 3.
Will My Credit Score be affected by the HAFA Short Sale?
Great Question! Yes is the answer. Anyone suggesting that you can do a short sale and not have an impact on your credit is not telling the truth!
The magnitude of the impact varies greatly depending on your actions. The largest impact comes from the late mortgage payments. The more in default, the greater the impact. Web Search Engines return results that the averages are 100-150 points for Short Sales and 250 or more for a foreclosure. Remember, every case is unique.
You must use a Licensed Real Estate Agent to initiate the HAFA Short Sale process. Ian Reekie at Reekie Properties in Portland Oregon and in Deschutes County can assist you with your HAFA short sale. To reach Ian email him at ian@reekieproperties.com
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