There is alot of misinformation about the effects of a short sale on your credit. Every situation is different, but the biggest factor in your credit score is about whether or not you make your house payment.
We can’t tell you whether you should make your payment or not. You’ll have to weigh the consequences of that decision. For every payment that you miss, there will be an affect on your credit. We can short sell homes for people that have missed their payments and we’ve also short sold homes where homeowners haven’t missed their payments.
If you foreclose, you are abandoning a property and that will show on your credit score. When you get through the short sale process, there will be a shorter path to repairing your credit.
About Jeff Green
Jeff listed and sold his first short sale in early 2006 at the beginning of the Real Estate Recession. While other agents rejected short sales because of their complexity and the work involved to successfully complete them, Jeff embraced them as a rewarding way to help home owners who were facing difficult times.
About Jeff Reyes
Jeff Reyes has been a REALTOR since 2009. In just six short months from starting his real estate career, he dominated the local internet traffic for short sales and started writing a weekly real estate article for the local newspaper. It is Jeff's passion to inform and equip the local community to be able to make smart real estate decisions. Outside of real estate, Jeff's major passions are vacations and his family.
