Short sale wona t save credit score, experts caution | The Columbus...

Full story: Columbus Dispatch
Short sales, in which a property is sold for less than the bank is owed, have become increasingly common since the housing market tanked. Full Story

Columbus, OH

#2 Jun 6, 2010
These scores are rigged and flawed.

Washington, DC

#3 Jun 6, 2010
True, a short sale will not save your credit score, but it will allow you to buy a new house sooner. Fannie Mae and Freddie Mac have recently both just extended the amount of time required between a foreclosure and a new home purchase to somewhere between 5 to 7 years. With a short sale, the homeowner would be able to purchase a new home much sooner, if their credit was rebuilt.

Redding, CA

#5 Jun 7, 2010
Also consider the fact that "short sellers", in some cases, may be required to pay income taxes on the amount that the lender "forgave" them on the short sale.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Home Selling Discussions

Title Updated Last By Comments
Real Estate Agents: Single-Family Homes a Hot R... (Jun '12) Fri sameer44 185
Home sales climb 2% in October (Nov '12) Feb 8 alsuog 24
What Your REALTOR May Not Tell You About Home-s... Feb 5 sfreddson2156 1
Five real estate trends to watch in 2015 Dec '14 cresta 1
Property Owners: Four Options When Considering ... (Jul '14) Jul '14 Roots of all Evil... 8
Can't Sell Your Home? Maybe It's Time to Rent It (Jun '11) Jul '14 LauraHoward031 7 CEO Uses a REALTORA to Sell His Ow... (May '14) May '14 Yvonne Thomas 1
More from around the web