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UplandCitizen
Posts: 54
Registered: ‎10-18-2012
Re: Short Sale a house with up-to-date payment

From_LV wrote:

Hi,

 

I'm considering short sale my house, but I don't want to hurt my credit score.  I was told that the bank allows you to short sale a house without deliquent payment.

I'm wondering even if I have no late payment on the mortgage, will short sale hurt my credit score?  Have anyone gone through that? How does it effect your credit score?

 

Thanks,



From_LV wrote:

Hi,

 

I'm considering short sale my house, but I don't want to hurt my credit score.  I was told that the bank allows you to short sale a house without deliquent payment.

I'm wondering even if I have no late payment on the mortgage, will short sale hurt my credit score?  Have anyone gone through that? How does it effect your credit score?

 

Thanks,



From_LV wrote:

Hi,

 

I'm considering short sale my house, but I don't want to hurt my credit score.  I was told that the bank allows you to short sale a house without deliquent payment.

I'm wondering even if I have no late payment on the mortgage, will short sale hurt my credit score?  Have anyone gone through that? How does it effect your credit score?

 

Thanks,


I am almost done with a short sale and have never been late, so Banks are approving short sales without delinquency if you have an imminent hardship i.e. loss of spouses job etc. 

A short sale will hurt your credit but I'm not sure how much.  I know it will depend on how your credit is now. 

 

 

EQ: 806 (10/10/2012)
TU: 811 (11/25/2012)

After Short Sale 11/20/12:
EQ: 694 (12/1/2012)
TU: 677 (12/5/2012)