Short sales and foreclosures equally degrade FICO scores

Toss in today’s short sale market, and neither Houdini nor any self-respecting Las vegas odds maker would try to predict what your scores may be. Short sales and foreclosures equally degrade fico scores. short sales and foreclosures equally degrade FICO scores Fill out my form! Posted by Joel Lobb, Mortgage Broker FHA, VA, KHC, USDA at 9:56 AM.

 · · 3 year waiting period after a short sale · Credit must be re-established with a minimum 640 FICO . 2011 VA Loan Programs: · 2 year waiting period after a foreclosure · 2 year after a short sale, unless it was a VA loan then restrictions apply · 2 years after a bankruptcy · Credit must be re-established with a minimum 620 FICO

Homeowners have been led to believe that since foreclosure is so devastating to their credit scores, almost anything else is better. This is not true — turns out there’s no significant difference in.

Freddie could take more than a decade to unload REO inventory REOCON 2013: An update on short sale and REO trends Deficiency judgments sometimes pop up after foreclosure or short sale.Homeowners are often surprised to receive them, and this is usually because they don’t get the right legal or tax advice in advance.Category: Mortgage News – The Kevin Rhodes Group – Shadow inventory is the banks and governments foreclosure inventory that has yet to be released on the market. I have heard some astronomical figures of how much shadow inventory is really out there, but in John Prior’s article titled " Freddie could take more than a decade to unload REO.

Credit Scores Short Sale Vs Foreclosure How I Can Check My Credit Score For free credit scores short Sale Vs Foreclosure. Seeking out Instantly receive your free credit score and free credit report data online Best Free Credit Report Site , Free Fico Scores Without Membership shows your Credit Score profile free Free Credit Score Check Credit Scores Short Sale Vs Foreclosure The Best Free.

A loan in foreclosure: 492 days – and growing  · National average: 492 days From Default to Foreclosure 492 days in October 2010 versus an average of 382 days in October of last year. "In other words, people who default on their mortgages can reasonably expect, on average, to stay in their homes rent-free more than 16 months.

"Unlike something like foreclosure, which is focused on a specific account, bankruptcy spills over into all accounts," says Ethan Dornhelm, a principal scientist in FICO’s scores development. the.

Build Better Credit » 5 uncommon ways to raise your credit score. owed of $50,000.While the short sale will damage your credit score dramatically (as much as a foreclosure, according to examples.

And if you got out from under an oppressive mortgage through a short sale. a foreclosure sent a FICO score of about 720 down to as low as 570 and took about seven years to recover fully, assuming.