Fort Lauderdale | West Palm Beach | Palm Beach Gardens

Does a short sale hurt my credit?

Maybe. If you are already behind on your mortgage your credit is already likely harmed. A short sale will show up on your credit as a negative item but is much less harmful than foreclosure, deed in lieu, or bankruptcy. The lender reports the debt as “settled for less the amount owed”. Sellers often recover from a short sale quickly and can often qualify for new home loans in 2-3 years. Mortgage lenders often prefer applicants that did a short sale to those that walked from the property or filed bankruptcy. Short sale is the least harmful to your credit typically.

Contact Tiller & Rivera Law P.A. today to discuss your short sale options with West Palm Beach short sale lawyer and real estate attorney.
Main Office: West Palm Beach Satellite Offices: Stuart Palm Beach Gardens Fort Lauderdale


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