Highly Experienced
Chris Pendleton
and
Shannan Marty
Associate Broker - Realtor®, ABR®,CDPE, CSP, CNE, CSSN, SFR, a-REO, PSC
Will a Short sale affect my credit?
Your credit will suffer, but usually not as severely as after a foreclosure. Often, the worst damage results from the late payments that precede a short sale. These entries remain on a credit report for seven years, but eventually recede in importance; loan underwriters are usually most interested in recent activity. By contrast, foreclosure remains as a current entry via source codes for seven years. This subtle distinction can make a huge difference.
Click HERE to view an article on 'Will a Short Sale Save Your Credit'
