Short Sale Tidbit #3 | Credit Score Consequences

i) Short Sale Credit consequences

(a) Can reduce score by 75-125 points

(i) Vs Foreclosure (300+ point reduction)

(b) Cannot get FNMA loan for 2 years

(i) Vs Foreclosure – 5 years

(ii) Vs Deed in Lieu – 4 years

(iii) Vs Bankruptcy – 2-5 years (depending on Chapters)

(c) FHA – UK

(i) Vs Foreclosure – 3 years

(ii) Vs Deed in Lieu – 3 years

(d) VA – UK

(i) Vs Foreclosure – 2 years