Is a short sale better for my credit rating than foreclosure?
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A subscriber to AskTheMoneyCoach.com can’t afford their house. They want to know if a short sale or a deed in lieu of foreclosure will be less damaging to their credit than a full blown foreclosure?
The short answer is no, all three are equally damaging to your credit rating. Watch this video.
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Posted in Foreclosure, Real Estate | 
Tags: AskTheMoneyCoach.com, deed in lieu of foreclosure, Foreclosure, Real Estate, short sale, Uncategorized
Thanks for alerting us to the missing video link from ABC News Now.
Many consumers think that a short sale is better for your credit report than a foreclosure. Unfortunately this is not true. Both a short sale and foreclosure will have the same negative impact on your credit score.
Gerri Detweiler with credit.com provides a great explanation in this video http://abcn.ws/mVeVwZ.
I am really interested in this answer but the video link is not working.