Repair Credit Score

Question: How does a short sale affect your Credit Score. Would appreciate any info from people who have been through it

Answer: Hi, I have not been through a short sale myself but have heard that a short sale can cost you 80-100 points on your score while a foreclosure can cost you 200-280 points. Obviously, with regards to your FICO a short sale is the better way to go. It may also be possible to negotiate with the lender so that they will not report the short sale to a credit reporting agency.

Of course, most lenders will not even consider a short sale until your are a couple months behind in payments so the "lates" will show up on your report and hurt your score as well.
Good Luck!

FORECLOSURE and BANKRUPTCY: info from the Credit Secrets Bible