deedinlieu of foreclosure: Has FICO score penalty for short sale increased?
- 03/12/08 08:18 PM
In my post Credit consequences of the Short Sale we came to a joint conclusion that the FICO score penalty for short sale is 150 points and for foreclosure 300 points. I have just received an email from myFICO stating that there is no difference in the penalty for short sale and foreclosure: "However, as far as your FICO score in concerned, there is no difference between foreclosures and short sales or deeds-in-lieu of foreclosures." Is that true? Has it changed in the new FICO algorithm or was it the case all along? Or, possibly, it varies dependent on some other … (13 comments)
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In my post Credit consequences of the Short Sale we came to a joint conclusion that the FICO score penalty for short sale is 150 points and for foreclosure 300 points. I have just received an email from myFICO stating that there is no difference in the penalty for short sale and foreclosure: 
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