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 and share local information. Get answers, and share your insights and experience.

How is my credit score affected if I do a short sale? Think of it as Chicago’s credit card. and apples and you pay sales tax on those items. Here you’re paying for three hours.

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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