4 Responses to “Ask the Pros…”

1. admin says:

   April 20, 2009 at 12:55 am

   Hello Bill –
   I am asked this question often. A foreclosure will take a steep 250 points off your credit score. A short sale, however, is more variable. The range of points a short sale can decrease your credit is from 40 to 160, depending on how long you had the loan, how many payments were missed, whether or not a Notice of Default was filed, etc.

   We are partnered with a non-profit credit repair company and can refer you once the short sale is complete to begin the rebuilding process.

   Make sure to check out this other post for more detail on how your credit is affected

   Michael Corradini, CEO Short Sale Pros
2. Bill says:

   April 19, 2009 at 1:08 pm

   How much does a short sale lower my credit score?
3. admin says:

   April 15, 2009 at 2:02 pm

   Hi Julie -

   If your property is located in Oceanside, or anywhere in California, you have 90 days after a Notice of Default is filed until your lender can file a Notice of Trustee Sale. At this point, the auction date can be set as soon as 21 days after the Trustee Sale is filed. In total, you have 111 days after the Notice of Default before your lender can auction your property.

   It is important to mention that 111 days is the soonest the property can be auctioned. We see many lenders taking much longer if you are negotiating a loan modification or a short sale.

   Michael Corradini, CEO Short Sale Pros
4. Julie says:

   April 14, 2009 at 11:49 pm

   If my lender just filed a notice of default, how long do I have before I have to leave? I lost my income and cannot afford the house.

   thanks,

   Julie
   Oceanside, CA