Wilmington Real Estate

Generally, a short sale is reported as a paid account.  It is a common belief that with the increase in short sales, there will be a new code created to report short sales eventually.  When negotiating a short sale, ask your mortgage lender how it will be reported to the credit bureau.  Questions about how mortgage loan delinquency and foreclosure may affect you should be directed to an attorney and or tax professional.

Regardless of how they end up reporting a short sale, it most likely will NOT have the same impact on your credit as a foreclosure!!!  I am passionate about helping homeowners work through difficult situations.  If you have questions or need help with a short sale, please do not hesitate to contact me MichelleRoberts@realexit.com.