Should Credit Be Affected By A Short Sale?

Should your credit be affected by a short sale?  Currently it is although from most of our past clients we speak to it hasn't been too tremendous of a hit.  We are hearing of score drops that range from about 0-120 points or so, with the average being around 80-100.  Then there is a tradeline on your report usually stating "settled for less" or "paid in full, less than full balance"

You will need to speak to a credit professional to find out exactly how it may affect you but from our experience most of our clients have been happy taking a bit of a credit hit in exchange for $100,000+ release in debt.

Plus with the added bonus of being able to purchase a home in 2 years at regular interest rates it has been a great way to release you from all the liability and put you in a new home in 24 months!

Call us today to learn more about short selling your home - 480-241-4406 or visit us at http://www.AzHomeHelp.com!

 

Credit scoring system out of date

Is the credit scoring system out of date?  The National Association of Realtors called the system "Archaic"..and we have to agree!  With the real estate market in it's current state we think it's time for an overhaul...http://bit.ly/gDocuk