Welcome to my blog. I'm a Southern Califoria Realtor specializing in short sales specifically in South Orange County. My goal is to provide you with honest and extraordinary service and expertise. I hope that you will find this blog helpful and that you will continue to follow my updates. Your comments are welcome.
A short sale and a foreclosure are seen as the same in terms of a credit score. Both will lower the score initially 100-150 points depending where the score originally started. Being late 30 days on a house payment can cause the score to drop 100 points. Under all scenarios, the higher the original score the larger the initial point drop. While the scores may be the same for both a foreclosure and a short sale, Fannie Mae sees someone with a short sale as a better credit risk. Financing is available after 2 years on a short sale as opposed to 5-7 years after a foreclosure. In some cases, borrowers can get a higher credit score in just a few months and climb back to a good score depending on how the short sale is reported to the credit bureaus. After 7 years the foreclosure or short sale drops off the borrower’s credit file. Please feel free to contact me for advice, questions or anything else that you may need.
Robyn Seymour CLHMS SRES ABR CRS GRI Prudential California Realty 949-793-5088 Robyn@RobynSeymour.com For more info/details on this and other proprties, Visit us at our website