2012 (current info) on the impact of a short sale without late payments.
10-01-2012 01:35 PM
I have searched the forum, but can't seem to get any current information on short sales. Short sales in 2012 are being considered now by the banks without being behind. I am in the process of a short sale due to a divorce and my ex losing his job. I am not late on my payments and expect the sale to close in about 60 days. I have read that it's really the late payments that affect your score more than the short sale itself. My realtor said not to bother making the payments that it is "bank propaganda" that they put out to get more money. My feeling is this is not true. I really want to minimize the negative impact on my score. If they report a "settled as agreed" without showing delinquency, what will be the impact? Trying to find the truth so I can decide weather to scrape up money for payments. Thanks.