Credit Impact of Real Estate Short Sales & Deeds In Lieu
Many San Diego homeowners mistakenly believe that their credit rating will be better off with a short sale vs. a foreclosure. This belief may be seriously flawed.
Short sales, deeds in lieu of foreclosure and foreclosure usually don't minimize the impact on a borrower's credit score. All three proceedings have roughly the same negative impact on an individual's credit score, according to Craig Watts, a spokesman for Fair Isaac Corp., which created the widely used FICO score.
Mr. Watts says that to date little analysis has been done distinguishing, for instance, the credit risk of individuals who completed a short sale versus those involved in a foreclosure. For that reason, "the model ends up treating them [a short sale, a deed in lieu of foreclosure, and a foreclosure] all the same." San Diego income property
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When I saw how the housing prices were going up, up,up and most peoples’ salaries didn’t pay enough to afford them, I knew the market was going to crash three or four years ago. Some real estate dealers and owners were just so incredibly greedy. They ask for a sales price or rent not based on how much they really need to charge to recover their expenses and make a reasonable profit, but on getting the maximum money for themselves, without regard for the effect on society. San Diego Hotels< /em>
The 80/10 loan: You bought a house you can’t afford. Why should the bank bail you out? Jeez, you took out 2 loans because 1 bank knew you could not afford the house you wanted. Acne Treatments
To those who think only low income people are losing their homes. WRONG….middle-class folks are losing their homes MORE than low income folks are. I think it makes some people feel good to try to put a rationale on this, that it has to be people with low income, than to accept the fact that it is middle income folks more so. Fort Lauderdale Bail Bondsman
Real estate should always be thought of as long term investments. People who buy properties whether in San Diego or anywhere else must realize that the potential for loss is ever present. San Diego Income Property
Homeowners should be prepared to ride out the current fluctuation, because in the long run values should continue to escalate. San Francisco Lawyers
Seems there should have been more government regulation and tighter qualification for subprime mortgages in order to prevent what we’re now facing. San Diego Plastic Surgery
I remember in 2005 that it seems every month the paper reported that real estate sales were down by double digits though the values seem to be holding up. You would think an intelligent person would realize sales cannot drop by such a magnitude without values following. San Diego Medical Trials
There was so much speculation in the San Diego real estate market, what we’re seeing now seemed inevitable. Houston TX Bail Bonds
It’s simple. House prices have to come down to pre-bubble level. It’s hard to take for a lot of folks. But that’s reality. San Diego hotel rates