The following post gives links to good information on the efffects of a Short Sale on seller credit.
Clearly, the effect on seller credit is directly related to what is negotiated with the lender in the Short Sale process.
It is also directly related to how much harm to the sellers' credit record has already occurred before the Short Sale begins.
If you are buyer or seller in Lane County, don't hesitate to call me re Short Sales.
Short Sales, Foreclosures, Deed in Lieu of Foreclosure, is there a difference when talking about credit? According to my credit expert from First American Credco, the answer is no. Please take a minute to look over my post about the effects each will have on your credit and ability to purchase a home in the future. Current home owners that are contemplating a short sale should get some legal advice first.
I hope you will find information that is valuable when deciding the way to go in a bad situation. It is my opinion that Realtors can help their prospective clients by knowing these answers too. Feel free to contact me at 541-342-7576/541-221-3455 Cell with any questions, or e-mail me at eugeneloanguy@gmail.com. I can also recommend my outside blog posts anytime your need specific information about FHA Loans or USDA and VA loans.
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Jim Hale
Principal Broker / Owner
Graduate, REALTOR Institute e-PRO
2012 Member, Million Dollar Club of Lane County
2012 Member, Real Estate Brokers Million Dollar Club
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