How will short sale and deed-in-lieu affect my credit score?
The extent of how they will affect your credit scores depends on the outcome of your negotiations with the lender as to how they will report it to the credit bureaus. Their reporting can range from “not paid as agreed” or “not satisfied” to “settlement in full” or “full satisfaction”. Some experts believe that the number of late payments is the only impact; while others indicate that the credit bureaus have adjusted their model to make them more negative. How will foreclosure impact my credit score? Foreclosures are considered a very negative event to your credit score. A foreclosure remains on your credit report for 7 years, but its impact to your credit score will lessen over time. The important thing to remember is that a foreclosure is a single negative item, and if you keep this item isolated, it will be much less damaging to your credit score than if you had a foreclosure in addition to defaulting on other credit obligations. How will bankruptcy affect my credit score? Bankruptci
