Tag Archives: Why Short Sales

With short sales, home owners work with a bank on a solution to get out of a house they may no longer be able to afford or have to sell urgently for some reason. That’s why some argue short sales shouldn’t damage a person’s credit score in the same way as foreclosures, which can be much more costly for banks. So should the penalty for a foreclosure more severely damage a borrower’s credit score than a short sale? No, maintains a new FICO study. FICO conducted a study to determine […]