You are on page 1of 3

Post Short Sale Effects on Credit

 The Short Sale will be reported on the borrower’s credit


report as a “settled” account and/or “paid but not in
full”

 Much better than a Foreclosure

 Get a loan much sooner

 The Short Sale will have a negative impact on the


borrowers credit score

 Continuous late payments are what really destroys


credit

 There is no magic formula for determining a FICO score


after the Short Sale
Short Sale Vs. Bankruptcy
 Bankruptcy does not eliminate Foreclosure

 Bankruptcy eliminates all liabilities but not Foreclosure

 Getting two black eyes

 Long term effects

 How to work with a borrower who has or is planning


Bankruptcy

 How Bankruptcy attorneys might be your best ally

a new look to real estate


Bankruptcy (BK) vs. Short Sale

 Does bankruptcy really eliminate foreclosure?

 Is Bankruptcy necessary always

 Seller can still do a short sale after they file, they


actually need to

 How can you partner with a Bankruptcy attorney


and do tons of business

a new look to real estate

You might also like