What is the effect on a homeowner's credit for doing a short sale? Obviously it will have some negative affect. First in order for a bank to consider a short sale you need to be behind on your payments. Late payments will have a negative effect. The sale itself will show up on your credit report as a "Compromised Sale" or "Discounted Sale".  You can expect your FICO score to take a 200 - 300 point hit.

How is this compared to allowing the house to go into foreclosure? It was explained to me one time as "What's the difference between being hit by a dump truck and a bus?"

If you or someone you know needs to list your home as a short sale please contact me. You can visit my Naples Florida Short Sales website by clicking the link or you can fill out the form at the bottom of this blog. If I can't personally take care of your short sale I will put you in touch with a qualified agent who can.

Naples Florida Short Sales Expert,

Benjamin Sovacool

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Article's Author

Benjamin Sovacool
Taylor Donovan Realty, Inc.
Naples, FL

Contact Benjamin Sovacool