who, in a house they can not afford, are often stuck on finding a way out.

However, in a manner not contemplated by the Minneapolis Star-Tribune, is a short sale. There are many online ads of people who buy houses for less than it is worth that, and it may seem like a quick solution, it can be just as bad to use a credit score is.

“short sales and foreclosures as negative by the guests, because our data show that it is very well predicts future credit risk,” said Tom Quinn, Fair Isaac, told the newspaper. “The claim that making a short sale will not affect your score is wrong. This is wrong.”

In both cases, the article says, banks should be careful, those who sell short, because the person forced the lender to lose money.

otherwise create clean, says the article. And seizures can vary sudden credit score 130-140 points. And for those who have credit records are uneven, falling short sales is 15 to 25 points instead of 10-20 foreclosure. The difference in the drops obviously considered the risk of lending to the consumer with a score already

However, not all short sales made worse when seized. The article says that if a consumer is considering a short sale and is close to the operation, then your credit score is not as much waste as if they do not make their mortgage payments for six months.

One expert told the paper that even if a consumer is able to dig foreclosure and save their homes, their guests will be severely damaged, call the effects of a “great success”.

And after the San Francisco Chronicle, the number of foreclosures rising, even for those with more upscale homes. In the area of San Francisco, nearly 1,000 homes were recorded in both years. The rate of foreclosure this year is about the same pace.


Houses for sale in Minneapolis