There is a lot of articles written out there saying a short sale will not effect your credit score as much as a foreclosure. Unfortunately moving forward with a short sale can impact your credit score very little to as much as a foreclosure. There are many variables that will effect the credit score during a short sale. Things to consider is:
- How many late payments have you had?
- How is the short sale reported to the credit agencies?
- What other financial troubles are you having?
A short sale is one of the last lines of defense before foreclosure. Make sure you fully understand the ramifications of a short sale before defaulting on your mortgage. Foor many upside down homeowners it is the only option. Read more about the impact of a short sale on your credit scores.
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This post, Considering a Massachusetts Short Sale, was provided by Kevin Vitali of EXIT Group One Real Estate In Tewksbury MA. If you are facing foreclosure, have missed mortgage payments or recieved your notice to cure you can contact Kevin by email at kevin@kevinvitali.com or call 978-360-0422. Call a Short Sale Realtor that can help. Don’t wait.
Short Sale Services in northeast Massachusetts, around the Merrimack Valley. Short Sales in the towns of Andover, Billerica, Boxford, Chelmsford, Dracut, Georgetown, Groveland, Haverhill, Lawrence, Lowell, Merrimac, North Andover, Newbury, Newburyport, North Reading, Rowley, Tewksbury, Tyngsboro, Westford, Wilmington, West Newbury and surounding areas
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