Wednesday August 15, 2018

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"Settle for Less"
Posted by shinypeni

I am looking at a mandatory "short sell" for my home.  I am compelled to sell due to the drastically lowering home values and my interest-only mortgage.  My mortgage company advised they would place a "settled for less" label on the mortgage section of my credit report.  I currently have about a 730 credit rating.  I have never made a late payment.  My payment history on my credit report is unblemished.  Should this sale go through, how will this affect my credit?  Is there anything else to consider?

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