How a Short Sale Can Impact Your Credit Score

A short sale is a situation where a borrower asks the lender to accept a loan repayment for less than the full amount; or when a lender agrees to accept less than the homeowner owes on a mortgage. Many homeowners believe that a short sale doesn't damage their credit as much. But a short sale can impact your credit score for seven years. Your scores could climb back into "good" status but you may not regain your lofty peak until the short sale falls off your credit reports in seven years. How a short sale can impact your credit score depends on several factors:

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