How Does A Short Sale Affect Your Credit?

A short sale affects your credit by knocking off up to 160 points  - give or take. This all depends on your credit history prior to the short sale. It also depends on how late your payments are. For example:

  • Credit scores in the 750 - 800 range can have 150 points knocked off
  • Scores in the 600 - 700 can get around 100 points taken 
  • 30 days late: 40 to 105 points
  • 90 days late: 70 to 125 points
  • Short sale or deed-in-lieu: 85 to 150
  • Worst case is Bankruptcy: 130 to 240

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How Does A Short Sale Affect Your Credit
How long does a short sale stay on your credit?

Seven Years; 7 years AFTER THE mortgage delinquency date. You may be able to get another loan after two years.

How To Dispute short sale on credit report?
  1. Print out your credit report
  2. Identify Errors On Your Credit Report 
  3. Write a dispute letter to the Lender
  4. (Optional) Seek professional help
    • Call Lexington Law For FREE Consultation (833) 838-5600
    • Call for FREE Consultation (833) 840-9600
    • See the list of credit repair services on the link below
When can you remove short sale from credit report?

The short sale will remain on your credit repot for seven years. You can remove a short sale if there are errors or after the seven years.

Can Lexington Law remove short sale?

Yes, lexington law can help with your short sale or foreclosure.

Give them call (833) 838-5600 to find out if they can help your specific situation. The call is free... and here is some proof of foreclosure removal:

Can Lexington Law remove short sale?
short sale vs foreclosure credit impact?

The credit impact is very similar. There will be differences but none that it universal. It all depends on what credit status prior to the mortgage issues.

how long after a short sale can i buy a home?

You will be able to secure a loan after 2 years.

Borrowers looking for a to put less than 20% down may have to wait  seven years or until the short sale is removed/ settled.

James Willaims

Hey There, James here. I am the co-founder and editor of this site. I have over 10 years experience in business and 5 in the credit repair world