Colli Real Estate

short sale vs foreclosure?

I have a home that is in foreclosure. I am also working with the bank for them to approve a short sale that was offered. Problem is foreclosure proceedings have begun and credit has been affected already. I spoke with the bank & they said if the short sale is approved the foreclosure attorneys will be pulled off. Question is, if the short sale is approved, will the foreclosure event that had started be pulled off my credit. Will it state it was changed to a short sale, or will a foreclosure status remain on my report, even though it was pulled back?

Is the foreclosure on the reports already? Likely it will stay unless you can negotiate with the bank to remove it or attach an explanation to your reports.

Your late payments that brought you to this point will stay andaffect the scores for a time then lessen aas time goes by.

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Doctor Foreclosure : The Secret to a Successful Short Sale $10.68 No Synopsis Available

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