You score will take a pretty big hit when the short sale hits it but not as mucha s some since with the other lates, etc you have laready taken some lumps. But no, it is not going to "look better" becuase you are no longer in default. Instead of curing the default, you settled the defualt for less than owed (Short sale) There will be a notation placed on the mortgage file to that extent and your score will drop.
as far as the consolidation, was it a regualr consolidatin loan, or debt consolidation. Big difference. If you took out a loan, paid off all of the debt, and are now just paying the loan, you will have get some small incremental increases (you probably already have but they have been more than negated by the mortgage lates).
If it is debt consolidation it could go either way. Many of these companies contiue to report you as late until paid in full so your score could continue to go down. Some will change to reporting the debt as being paid, and some will reprot it as settled or paying less than owed. Too many variables and it can vary creditor by creditor. If they are charge offs or collections, paying them does not help your score in any case.
Best case is that as the debts are piad off you get lucky and they report paid as agreed and your score starts to climb
Worse case, they are being reportd as still delinquent all the way until being paid off and your score is going to keep dropping until paid off. no way for us to know and it probably lies somewhere in the middle. Short term, debt consolidation programs (if that is what you are in) generally are a negative on your report...BUT, they allow you an out to get out from under alot of debt in a reasonable amount of time and long term can end up being good as you get the detb paid quicker and can then start rebuilding sooner.
