They cite tighter credit, higher interest rates, annual fees, elimination of grace periods and/or the slashing of rewards programs. Edward L. Yingling, president of the American Bankers Association,

A short sale will stay on your credit report for as long as a foreclosure, which is about seven years. A short sale is not as bad as a foreclosure in the eyes of lenders, so it’s possible you.

To preserve these articles as they originally appeared, The Times does. in short maturities are worried about." Today, the market is likely to focus again on the dollar and gold, but traders will.

Long Term Credit Score Damage from a Short Sale. While the immediate impact is painful, the worst is yet to come for your credit score. There is a myth in personal finance that a foreclosure is significantly worse than a short sale when it comes to your credit score. Unfortunately, this is simply not true.

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Homeowners can also get out from under a mortgage by doing a short sale, in which the lender allows the borrower to sell the house for less than what is owed. A short sale is also bad for your credit.

Regrettably, agreeing to a deed in lieu and surrendering a property does result in some credit damage. While homeowners can avoid a loan foreclosure, they do not complete the mortgage obligation and choose to walk away.

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There is no way to avoid the damage a short sale does to your credit score. A short sale can knock as much as 160 points off your credit score, but the level of damage heavily depends on your credit standing before the short sale and how much your lender gets in the sale, among other things.

and does it go down less if, say, a potential employer checks it vs. a potential lender?-Name and address not disclosed Most credit scores are not affected when you shop for a car, mortgage, student.

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