San Mateo Short Sale and Your Credit

San Mateo Short Sale vs Foreclosure

Doing a foreclosure in San Mateo is going to slam your credit to the mat.

Short Sale If At All Possible

The difference in credit score damage is huge. Wachovia reports you’ll be hit by a 300-350 point hit to your credit for a foreclosure versus 60-80 points for a short sale.

Importance of Credit

You’re at your wits end and want to walk away from the anchor of a house. You’ve tried everything to salvage the situation but it’s hopeless. Get help.

When you try to rent after dumping that ball and chain guess what they’re going to do. Pull your credit. With a 300 point drop good luck renting.

San Mateo County Lenders Are Desperate

They do not want to foreclose and they’re putting their money where their mouth is. Some lenders are making a sweep through San Mateo County and others throughout the state to tell Realtors how to help you avoid foreclosure.

Why don’t they want to foreclose? It’s too expensive. They save $38,000 per house by not foreclosing. You? You get to salvage some of your credit. Get help.

Thanks for reading the San Mateo Real Estate Blog.

Vicki Moore, Realtor
Certified Short Sale Expert
Alain Pinel Realtors, specializing in San Mateo, CA Real Estate.

Need real estate help?
Contact me at 650.888.9268 or Vicki[@]CallVicki.com.

san mateo county home search

photo credit

Vicki Moore About Vicki Moore

Office:
RE/MAX Star Properties
282 Redwood Shores Parkway
Redwood Shores, CA 94065

By Phone:
650.888.9268

Comments

  1. Tony Orlando says:

    I found your blog on google and read a few of your other posts. I just added you to my Google News Reader. Keep up the good work. Look forward to reading more from you in the future.

  2. Tony Orlando says:

    Thanks for posting the article, was certainly a great read!

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