THE IMPACT OF FORECLOSURE vrs. SHORT SALE...2nd entry!!!

THE IMPACT OF FORECLOSURE vrs. SHORT SALE...the 2nd Installment deals with CREDIT HISTORY

A FORECLOSURE WILL REMAIN PUBLIC RECORD ON A PERSON'S CREDIT HISTORY FOR 10 YEARS OR MORE.

IN A SUCCESSFUL SHORT SALE , THE SHORT SALE IS NOT REPORTED ON A CREDIT HISTORY. THERE IS NO SPECIFIC REPORTING ITEM FOR "SHORT SALE'. THE LOAN IS TYPICALLY REPORTED 'PAID IN FULL, SETTLED'.