Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.
Action Plan Following a Hudson Short Sale
Strengthening Credit After a Short Sale in Hudson
A Hudson short sale represents real value for the homebuyer, of course. But to some extent, it is also a boon to the seller. Being able to unload a property that’s underwater helps avoid the most dire credit consequences of a Hudson foreclosure.
But lingering credit damage can still result from any short sale -- if the short seller allows it to happen. Should you find yourself in the short sale situation, be proactive in protecting your credit score. You will put yourself in a position to re-enter the market sooner than you think if you take action to improve a damaged credit score following a Hudson short sale. Here’s how:
· Sit down and write out a strategic monthly payment plan for all open credit accounts and loans. It becomes real when you put pencil to paper. If the total is unrealistically large, contact as many lenders as needed and ask to reduce the payment amount. Making on-time payments is how you will build and repair your credit.
· Apply for a secured credit card. It is tempting to use only debit or prepaid cards, but this does ... more
Are you on The Rain? Grow Your Network!