Moderator
pizzadude
Posts: 6,253
Registered: ‎01-28-2010
Re: Short Sales and the new Hafa rules JUNE 1st 2012
[ Edited ]

 

Can you post a link to the article that explains the differences ?   I really can't say that it would be less, but I would have to understand the changes that were described.

 

This chart has been around for a while, it explains the approximate damage that can occur, short sales are usually on par with foreclosures.


DAMAGE POINTS:     HOW MISTAKES AFFECT FICO SCORES 


Credit mistake              If your score is  680              If your score is 780


Maxed-out card
                                      Down 10 to 30 pts.                          Down 25 to 45 pts. 
 
30-day late payment
                                        Down 60 to 80 pts.                 Down 90 to 110 pts. 
 
Debt settlement
                                      Down 45 to 65 pts.                     Down 105 to 125 pts. 
 
Foreclosure
                                      Down 85 to 105 pts.                           Down 140 to 160 pts. 
 
Bankruptcy
                                       Down 130 to 150 pts.                       Down 220 to 240 pts. 
 
Source: FICO

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX