How Does a Short Sale Affect My Credit in Arizona
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When the rubber meets the road, it's all about the direction you're going and from whom you get your directions. Often times, it is important for us to flex our legal muscle in order to get people to move. Not bragging, that's just how it is!! And knowing that you have a team ready to do so should add some comfort to this process. We understand that you would prefer to handle issues like this in a timely manner, and so will the lender, because you now have your attorneys involved. One of the BIG benefits of using Wells Realty and Law Groups is that we can actually make legal demands and follow through with them if we need to.
With Wells Realty and Law Groups, you also get:
Debt Settlement and/or Resolution
Tax Advice
Liability Advice
Credit Advice
It is generally recognized that a short sale has less of a negative impact on an individual's credit than foreclosure over the long term. However, in the short term, both a short sale and a foreclosure have about the same negative impact on your credit. A credit score will drop about 100-200 points. A person's credit score is simply a numeric analysis of someone's repayment of credit that has been extended. The actual impact a short sale has on credit varies based on the individual. There are many factors involved, including the time a short sale takes, the amount of missed payments, and how the settlement is ultimately reported to the credit agency.
