Bobba asked:


I have researched this topic as thoroughly as I can. I am aware of all the anectdotal evidence out there that range from it being no different from a true foreclosure to just a short term blemish in the range of 100-200 points on your credit.

If you have direct, personal experience with credit reporting guidelines, can you please respond? I need to understand exactly how this shows up on the credit report, its effect on your score, and how long it lasts and why (if it lasts less than 7 years). Please assume no late payments on the borrower’s part and no deficiency judgment sought by the bank against the borrower.

Thanks!
Thanks for the response- the formula provides great detail. Would the short sale be considered a foreclosure line item?

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