How does a Short Sell of my mortgage affect my credit in comparison to a Foreclosure?
Question:
Answer:
Foreclosure/Notice of Default and any 120's will kick you out of any Lending instiution for approximatly 2 years. Short Sale of your home if you can get it done before the 120's kick in and try to stay within th 90's will only help your cause. Foreclosure or BK13 can crash your FICO Score's. Work hard with the bank and try to push your property either to an investor or person looking to purchase there first home. You may not gain equity in the house you wanted but save your Credit and try again within a year or two. Good Luck
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