Loading...

How does a foreclosure affect a credit score versus a short sale?

Published: August 27, 2012 by admin

When it comes to short sales, a status of “account paid in full for less than full balance” or “settled” will still have a negative impact on a credit score because it means the debt was not paid in full as agreed. According to VantageScore Solutions LLC, a mortgage loan settled through a short sale typically results in a change of 120 to 130 points to the VantageScore credit score. A foreclosure generally causes a decline of 130 to 140 points. The impact of the short sale or foreclosure will vary since scores take into account the individual’s overall credit history.

VantageScore® is owned by VantageScore Solutions, LLC.

Register now for a detailed overview of consumer credit trends from the Q2 2012 Market Intelligence Reports. Also during this event, we’ll take an in-depth look at understanding the current state of the U.S. real estate market.

Source: The Ask Experian team advice blog.

Related Posts

Experian released the 11th annual state of credit report, which provides a comprehensive look at the credit performance of consumers across America.

Published: October 20, 2020 by Stefani Wendel

To maximize limited marketing spend, lenders will need to be more prescriptive to increase response rates on fewer delivered offers.

Published: October 6, 2020 by Eric Johnson

To improve results within the subprime space, lenders need to have a well-established pre-delinquent contact optimization approach. Read more!

Published: August 17, 2020 by Erik Svensen

Subscription title for insights blog

Description for the insights blog here

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Categories title

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.

Subscription title 2

Description here
Subscribe Now

Text legacy

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source.

recent post

Learn More Image