How Badly Does A Short Sale Affect Your Credit? | Foreclosure Avoid

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How Badly Does A Short Sale Affect Your Credit?

February 10th, 2010 - By
Posted in Avoid Foreclosure

I am considering a short sale on my home in order to avoid foreclosure, but before I proceed, I would like to know how it will affect my credit. Will it be as bad as a foreclosure? How long will it be before a bank will consider loaning me the money to buy another home?

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2 Responses to “How Badly Does A Short Sale Affect Your Credit?”

Gus J Says:
February 10th, 2010 at 3:19 pm
it will destroy it, it will be a charge off on your credit, bansk will lend you after 2 years as an FHA loan
Ed Atun Says:
February 10th, 2010 at 9:42 pm
No one really knows yet. the credit agencies said that a short sale would mean an immediate 619 score. Now we have people doing short sales without ever missing a mortgage payment. Their score is not dropping at all… but it could..

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