Short Sale: Steep maintains that the effect of a short sale (providing the sellers are more than 59 days late) on a seller’s credit report is identical to that of a foreclosure. The ding on credit will show up as a pre-foreclosure in redemption status, Steep says, which will result in a loss of 200 to 300 points.
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A short sale, also known as a pre-foreclosure sale, is when you sell your home for. You are facing a long-term hardship; You are behind on your mortgage payments. Start repairing your credit sooner than if you went through a foreclosure.
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how long will a short sale stay on my credit report? Find answers to this and many other questions on Trulia Voices, a community for you to find andGet answers, and share your insights and experience.
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If keeping up with your mortgage becomes impossible, a deed in lieu might be a better option than foreclosure. But it still comes with risks and a ding to your credit score The editorial content below is based solely on the objective assessment of our writers and is not driven by advertising dollars.
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How Long Is A Short Sale On Your Credit Report In addition to checking your credit scores, it’s a good idea to regularly check your credit reports to ensure that the information is accurate and complete. You can receive a free copy of your credit report.
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