Thread: Short Sale vs. Foreclosure?

My exhusband and I went through the process of a short sell on our house to avoid foreclosure. Does this look the same on my credit report?

It will be much better than a short sale on your credit. There may be some remaining money problems because of how the shortage will be treated by the mortgage company, but the shortage would be much more dramatic and treated just as bad or worse in the case of a foreclosure.

Pretty much. And are you aware that the lender can file a 1099 form with the IRS showing you received the difference in the sale price and mortgage balance of taxable debt-forgiveness income?

much better than forclosure