There is Life After a Short Sale !

There is life after a short sale, don’t think that your financial future is over once you negotiate a short sale.


A short sale is much different from a foreclosure, in that it is a negotiation with the lender to let the home sell for less than is owed on the home. The short sale prevents you from having a foreclosure on your credit, and it will also allow you to credit qualify for another loan within a few years time. Foreclosure will affect your credit rating for three years, but it will remain on your credit report for ten years. When doing a short sale, your credit will show that your mortgage loan is paid as agreed, or settled, but this will probably drop your score no more than 50 points, and the slow pay will drop off your report within 12 to 18 months.



With all of the media hype on short sales, it’s really tough to know what is right and what is wrong. You need an expert and the tools and resources to get this right. Foreclosure can be devastating so don’t let it happen to you. There are options, so we can discover what those are together. Call me at (310) 498-2700, or you can email me today at mdallal@fhaloansnow.net.