What happens to the sellers credit rating when they allow an investor to short sell their property?
What typically happens is the loan will show up as “paid” on their credit report; however there will be a notation that says “settled for less than originally owed” or something along these lines. It is more favorable for a homeowner to short sell than to have a foreclosure on their credit report.
Related Questions
- What happens if the taxpayer is in escrow to sell the relinquished property and then decides the want to make it part of a tax-deferred Exchange?
- What happens to the seller’s credit rating when they short sell their property?
- What happens to the sellers credit rating when they short sell their property?
