Can Chapter 7 Bankruptcy Be Removed From My Credit Report Before 10 Years?
A short sale is a type of real estate transaction in which the seller's lender agrees to accept less than what is owed on the property. Although it can be an effective way to avoid foreclosure, it can have serious implications for your credit score.
When considering a short sale, it’s important to understand how it will affect your credit. Generally speaking, a short sale will cause more damage than a foreclosure because lenders consider the former an example of “settling debt” while they view foreclosures as more of an unavoidable circumstance. As such, once you complete a short sale on your home, you should expect your credit score to drop at least 100 points or more depending on other factors such as existing debt and payment history.
The main Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
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