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PadreBrian
ParticipantSounds like they sold the house.
There’s another thread on here that short sales aren’t damaging credit scores as badly as you would think. I also suspect a large down. lol, easy with the 15 months of no mortgage or rent payments.
ParticipantSounds like they sold the house.
There’s another thread on here that short sales aren’t damaging credit scores as badly as you would think. I also suspect a large down. lol, easy with the 15 months of no mortgage or rent payments.
ParticipantSounds like they sold the house.
There’s another thread on here that short sales aren’t damaging credit scores as badly as you would think. I also suspect a large down. lol, easy with the 15 months of no mortgage or rent payments.
ParticipantSounds like they sold the house.
There’s another thread on here that short sales aren’t damaging credit scores as badly as you would think. I also suspect a large down. lol, easy with the 15 months of no mortgage or rent payments.
Participant[quote=sdrealtor]Effective Demand,
If you look around more than a couple minutes online you will see alot of peple claiming the damage to ones credit is just as bad with a short sale.All your comments about the recourse/non-recourse, securitized/non-securitized are accurate. However, when you do a short sale you can give up the non-recourse nature of the loans which does not specifically cover a short sale but rather a foreclosure. All the issues regarding portfolio/securitization only cover how quickly the short sale gets done.
The question I was never quite able to put a figure on is what happens to one’s credit when a large debt is written off and I fully expected 100 to 200 points of FICO damage, maybe more.
I have a client whose scores dropped almost 150 points because a department store bill for about $75 went to an old address for 3 months (dropping from 815 to 670 recently). This is probably gonna make some folks unhappy around here who have never gotten debt relief anywhere near this level. Quite frankly, I am shocked myself. Their scores today (they sent me a printout) are 748, 748, 770. Those are damn good scores and still prime A+ quality borrowers. [/quote]
So shot sells do work. Nice to know.Participant[quote=sdrealtor]Effective Demand,
If you look around more than a couple minutes online you will see alot of peple claiming the damage to ones credit is just as bad with a short sale.All your comments about the recourse/non-recourse, securitized/non-securitized are accurate. However, when you do a short sale you can give up the non-recourse nature of the loans which does not specifically cover a short sale but rather a foreclosure. All the issues regarding portfolio/securitization only cover how quickly the short sale gets done.
The question I was never quite able to put a figure on is what happens to one’s credit when a large debt is written off and I fully expected 100 to 200 points of FICO damage, maybe more.
I have a client whose scores dropped almost 150 points because a department store bill for about $75 went to an old address for 3 months (dropping from 815 to 670 recently). This is probably gonna make some folks unhappy around here who have never gotten debt relief anywhere near this level. Quite frankly, I am shocked myself. Their scores today (they sent me a printout) are 748, 748, 770. Those are damn good scores and still prime A+ quality borrowers. [/quote]
So shot sells do work. Nice to know.Participant[quote=sdrealtor]Effective Demand,
If you look around more than a couple minutes online you will see alot of peple claiming the damage to ones credit is just as bad with a short sale.All your comments about the recourse/non-recourse, securitized/non-securitized are accurate. However, when you do a short sale you can give up the non-recourse nature of the loans which does not specifically cover a short sale but rather a foreclosure. All the issues regarding portfolio/securitization only cover how quickly the short sale gets done.
The question I was never quite able to put a figure on is what happens to one’s credit when a large debt is written off and I fully expected 100 to 200 points of FICO damage, maybe more.
I have a client whose scores dropped almost 150 points because a department store bill for about $75 went to an old address for 3 months (dropping from 815 to 670 recently). This is probably gonna make some folks unhappy around here who have never gotten debt relief anywhere near this level. Quite frankly, I am shocked myself. Their scores today (they sent me a printout) are 748, 748, 770. Those are damn good scores and still prime A+ quality borrowers. [/quote]
So shot sells do work. Nice to know.Participant[quote=sdrealtor]Effective Demand,
If you look around more than a couple minutes online you will see alot of peple claiming the damage to ones credit is just as bad with a short sale.All your comments about the recourse/non-recourse, securitized/non-securitized are accurate. However, when you do a short sale you can give up the non-recourse nature of the loans which does not specifically cover a short sale but rather a foreclosure. All the issues regarding portfolio/securitization only cover how quickly the short sale gets done.
The question I was never quite able to put a figure on is what happens to one’s credit when a large debt is written off and I fully expected 100 to 200 points of FICO damage, maybe more.
I have a client whose scores dropped almost 150 points because a department store bill for about $75 went to an old address for 3 months (dropping from 815 to 670 recently). This is probably gonna make some folks unhappy around here who have never gotten debt relief anywhere near this level. Quite frankly, I am shocked myself. Their scores today (they sent me a printout) are 748, 748, 770. Those are damn good scores and still prime A+ quality borrowers. [/quote]
So shot sells do work. Nice to know.Participant[quote=sdrealtor]Effective Demand,
If you look around more than a couple minutes online you will see alot of peple claiming the damage to ones credit is just as bad with a short sale.All your comments about the recourse/non-recourse, securitized/non-securitized are accurate. However, when you do a short sale you can give up the non-recourse nature of the loans which does not specifically cover a short sale but rather a foreclosure. All the issues regarding portfolio/securitization only cover how quickly the short sale gets done.
The question I was never quite able to put a figure on is what happens to one’s credit when a large debt is written off and I fully expected 100 to 200 points of FICO damage, maybe more.
I have a client whose scores dropped almost 150 points because a department store bill for about $75 went to an old address for 3 months (dropping from 815 to 670 recently). This is probably gonna make some folks unhappy around here who have never gotten debt relief anywhere near this level. Quite frankly, I am shocked myself. Their scores today (they sent me a printout) are 748, 748, 770. Those are damn good scores and still prime A+ quality borrowers. [/quote]
So shot sells do work. Nice to know.Participant:shrug: Just looks like the guy was trying to keep people from driving on that corner grass. Let it grow for a while. Just a bad driveway/street cut-out.
Participant:shrug: Just looks like the guy was trying to keep people from driving on that corner grass. Let it grow for a while. Just a bad driveway/street cut-out.
Participant:shrug: Just looks like the guy was trying to keep people from driving on that corner grass. Let it grow for a while. Just a bad driveway/street cut-out.
Participant:shrug: Just looks like the guy was trying to keep people from driving on that corner grass. Let it grow for a while. Just a bad driveway/street cut-out.
Participant:shrug: Just looks like the guy was trying to keep people from driving on that corner grass. Let it grow for a while. Just a bad driveway/street cut-out.
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