| Re: The affect on your credit from foreclosures, short sales and deed-in-lieus
Yes the Short Sale will not impact your credit in the fashion that a Foreclosure or Deed in Lieu would impact your credit...if you keep the mortgage current during the process it is a very light ding to the credit in the scheme of things. Be aware that it will impact the score, but by no means to the degree that Foreclosure or Deed in Lieu.
Also you would be far more eligible for another property purchase a lot faster than with the Foreclosure or Deed in Lieu scenario. |