Does a Short Sale Mess Up Your Credit Score (FICO)?
But much less than foreclosure.
How much a short sale will mess up your credit will depend on how many payments you missed before we negotiate and close a short sale for you.
If you contact us for a short sale before missing any payments, that would be the best. We have even closed a short sale without any missed payments. Some banks however will want to see at least 1 missed payment to believe that you actually have a “hardship”.
Approximately how many points will your credit score drop?
Because there are so many factors affecting your credit score it’s hard to predict but here is a rough estimate:
Short Sale: 80-100 points negative FICO score impact
Foreclosure or “Deed in Lieu”: 250-280 negative FICO score impact