Unfortunately the subject of which has a greater impact on credit scores, a short sale or a foreclosure, comes up frequently. I turned to my credit expert Jim Kaiser at Advantage Credit Inc for advice. The short answer is that you are better off to attempt a short sale than have your property foreclosed on. For a more detailed explanation, please review the link below.
Short Sale vs Foreclosure
Next week we will look at how long after selling on a short sale you can purchase another home. As always, your questions and comments are welcome.
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Colorado Mortgage Broker License # 100019831
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
Click here to Get started searching for YOUR Colorado Dream Home.