credit recovery: SHORT Sales = LONG Impact on Credit! - 12/09/12 08:36 AM
QUESTION:  Have you ever proclaimed: "Short Sales have less impact on your credit than a Foreclosure"? This is not exactly true. Because there are so many risk factors involved in credit scoring; a person who lost their home through whatever means is usually in some state of financial distress; so many other factors will play into how much a short sale itself will impact their credit. Short sales - in many cases - have similar effect on your FICO score as a foreclosure. How can this be? Were we mislead? Yes and no.
WHAT MATTERS MOST  to your average person in credit recovery mode after a short sale is HOW IT'S LISTED … (32 comments)