Asked by Julie, Central Valley, CA • Tue Feb 3, 2009
I've been told banks are willing to negotiate on this so that the short sale won't be reported as a short sale, but as "account closed" (best case scenario, 0 impact on credit) or "account closed for less than amount owed" (worst case, still better for credit than a short sale, loss of about 60 points on credit score). I'm being told this by a company who wants me as a loss mitigation client and they know I'd like to get rid of my house and buy another one.
Real Estate in Ripon
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