Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

How does a short sale affect my credit as compared to a foreclosure?

April 26, 2017affect credit foreclosure sale short

0

10 Posted

How does a short sale affect my credit as compared to a foreclosure?

1 Answer

0

10 Posted

This is an excellent question for a lawyer or credit counselor. We have done considerable research on how both affect a homeowner’s credit and in both situations you will take a hit. In general we have found that a short sale is not nearly as bad as a foreclosure, but it does not mean that in the future creditors will be any more lenient on those who went through a short sale versus those who went through a foreclosure.