Credit Scores: The Impact of Foreclosures and Short Sales
People often ask how foreclosures and short sales impact credit scores. This is hard to answer because there are many factors that make-up ever-changing scores, and those factors are typically undisclosed to the public… until recently. A good credit score ranges from 700-800. Here’s a bulletin we received from our credit reporting agency that shows how your credit score is impacted. A bankruptcy deducts 130 to 240 points from your score, followed by a forecloseure or short sale at roughly 85-160 points.
- Todd Slack
