San Diego Short Sale Process-My Credit After Short Sale vs Foreclosure

By
Managing Real Estate Broker with Gary Kent Team - Keller Williams Realty CalBRE# 00862878

San Diego Short Sale Process

What about my credit after I short sale my San Diego home?

What is worse on your credit score, a short sale or foreclosure? In many cases, there can be a real benefit to doing a short sale on your San Diego home instead of a foreclosure. Both will have a bad effect on your credit score, but most credit experts agree that a short sale is less damaging than a foreclosure. Plus it may be easier to get a home loan in the future with a short sale. If you are not sure how long it will take to get back to a positive equity position in your San Diego home, check out our website www.ShortOrStaySanDiego.com.  Or, call San Diego short sale specialist Gary Kent at 858-457-5368 for a quick confidential analysis of your situation.

What is worse on your credit, Short Sale or Foreclosure?

The key credit element that most lenders use is the FICO score. Designed by the Fair Issacs company, this is a complex score based on all of your credit history, credit diversity, credit balances vs. available credit. In short, they are using it to predict how likely you are to go 90 days late. By definition, the California foreclosure process takes longer than 90 days so automatically you will prove the worst to Fair Isaacs and your score will reflect it.

For more detailed information on Credit Score, FICO and the San Diego short sale process go to: http://shortorstaysandiego.com/san-diego-short-sale-process-fico-score-credit-report/

Click here for more information on San Diego short sales: San Diego short sale expert Gary Kent has written the book on short sales. Gary would like to offer the San Diego Short Sale Guide to you for free – Short Sale Guide. To find out how much your San Diego home is worth compared to owe much you owe, go to www.ShortOrStaySanDiego.com

The Gary Kent Team 858-457-5368 of Keller Williams is a California Real Estate Broker, License 00862878. We are not licensed to provide legal or tax advice and we encourage our clients to seek legal and/or tax advice early in the short sale process. Gary Kent Picture


Attend a free seminar on October 22, 2012

" SHORT SALE: How To Avoid Foreclosure, Save Your Credit, & Protect Your Savings!"

Come & Learn:

- How soon can you buy after your short sale?

- Do YOU qualify for a short sale? Come & find out!

- Protect your savings & assets from bank lawyers!

- Do you have to pay anything to do your short sale?

- How to get thousands in cash “relocation allowance”

- Avoid the stigma & lingering problems of foreclosure

- Can your lender sue you for the loss on your short sale?

- What REALLY hurts your credit? ...It’s not what you think!

- Why a short sale is so much better for you than foreclosure

- Which “hardships” qualify you for a short sale? Which don’t?

- How we surprised one client with $14K cash at closing...legally

- If an agent does THIS, do NOT let them touch your short sale!

- What HAFA is & how it can make your short sale faster & easier

- 7 options if you owe too much. Most agents only tell you 2-3

- You’ve heard of property flipping. How about “flopping”?!

- Should you be current on HOA dues? Property taxes?

- Avoid dangerous scams, including the latest one

- When it’s illegal for banks to ask you for $$$

- Will a short sale delay/prevent foreclosure?

- Should you spend $$ to fix up your home?

- Must you be behind on your mortgage?

- Can you sell to family or friends?

- Can you buy your home back?

The Gary Kent Team of Keller Williams is a California Real Estate Broker, License 00862878. We are not licensed to provide legal or tax advice and we encourage our clients to seek legal and/or tax advice early in the short sale process. Click here for more information on San Diego short sales:

San Diego Short Sale Process:

Gary Kent Pictureby Gary Kent. Gary has successfully helped well over 200 clients and their families sell their homes or other real estate via a short sale. In 1991, he closed his first short sale for a young family, and since has been helping clients get out of stressful financial situations, escape from “under water” mortgages, avoid foreclosure (and the accompanying stigma), save their credit, and maintain their pride through a short sale. You can find Gary on Facebook, Twitter and .  

 

Original verision of this post can be found at: http://shortorstaysandiego.com/san-diego-short-sale-process-my-credit-after-short-sale-vs-foreclosure/

 

Posted by

Gary Kent

Gary Kent Team - Keller Williams

www.GaryKentTeam.com

8813 Villa La Jolla Drive #2001

La Jolla, CA  92037

858-457-5368

Facebook ImageLinkedIn ImageTwitter Image

Comments (0)