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Strategy for Deciding to Pass o...

  Ed exemplifies the strategic approach to short sales. Ed bought an apartment in a popular city five years ago when he was earning $350,000 a year in the finance industry. Recently, however, his property value decreased substantially and so...

Low Credit Scores and Short Sal...

  The choice to have a deficiency balance waived in a Short Sale is clearly the better of the two options for the seller, but there is no guarantee that this will happen. In fact, there is no guarantee that a lender will even approve a short...

First Example of a Short Sale...

June and Bob Lansan bought a summer home in Florida six years ago for $350,000 with the intention of retiring there. The mortgage they hold is for $275,000 and the current value of the property is $150,000. The bank has agreed to allow the...

How Should a Decision to Apply ...

So many consumers wonder how short sales affect their credit, and if selling their home through a short sale is the best approach.  There are many factors to be considered, including the value of the house, the price being offered by the...
recent from Repair Credit Scores Strategy for Deciding to Pass on a Short Sale
  Ed exemplifies the strategic approach to short sales. Ed bought an apartment in a popular city five years ago when he was earning $350,000 a year in the finance industry. Recently, however, his property value decreased substantially and so did his salary.  Although the bank was willing to approve a...
recent from Financial Problems How does a Short Sale Impact Credit Scores?
Short sales are seen as settlements.  Short sales are a mortgage being reduced down to a lower dollar amount by the lender, who will take a loss on the uncollected balance,  in exchange for a one time lump sum payment.  This is the same as a settled collection or charge off so it reflects as such on...
recent from Protecting Credit Dun & Bradstreet and Trans Union Merge
Dun & Bradstreet is the main source for business credit profiles.  Right now Trans Union, one of the 3 major credit bureaus, is joining forces with Dun and Bradstreet.  It is unclear exactly how this will affect a companies business profile but there will be options to have personal and business...
recent from Healthy Credit Advice The Benefits of Managing Credit Well
It was about three years ago that I bought my present home. I was able to get a fantastic interest rate since my Fico score was well above an 800. I also wanted a Bloomingdales card but because of my knowledge of scores I waited until after I was approved for the loan. Once I had been approved for the...