Does a short sale affect credit score?

Answer A short sale can reduce your credit score by 75 to 100 points, which is far less than the 250-point drop that occurs when a home goes into foreclosure.Source:Short Sell Information

Top Q&A For: Does a short sale affect credit score

Does a short sale affect credit?

The effects of a short sale on credit depend on how a lender reports the information to the bureaus. Lenders can report the short sale as a debt settlement, which lowers credit ratings. On the othe... Read More »

How will a short sale affect your credit?

A short sale allows a homeowner who can no longer afford his home to sell it and avoid foreclosure. Whether he sells in a short sale or the bank forecloses, the homeowner's credit report is impacte... Read More »

How much does a short sale affect credit?

If your home is worth less than the amount of your mortgage and you cannot continue making the payments, you may request that your lender approve a short sale. A short sale, however, can damage you... Read More »

Does a short sale affect a credit report?

A short sale can affect your credit report, but the extent of the damage to your credit score depends on how the bank reports the short sale loss to the credit bureaus. Some report the loss as a w... Read More »