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Short Sale vs. Foreclosure Credit Score Damage? FICO Debunks Some Myths

The Baltimore Sun had an interesting article on Monday on the subject of the relative impact of foreclosures and short sales on credit scores:

“Homeowners who are falling behind on a mortgage often worry just how much they might be damaging their credit score.

How much will a score be dinged if a [...]

Short Sales Not Immune To Debt Collectors: Experts say it’s best to know your risk when considering a short sale.

The Orlando Sentinel had a good article today that is worth a read by any homeowner considering a short sale as a way to get out of an underwater loan. Although it is a Florida-focused article, the same caution would also apply to a Maryland homeowner:

“What these homeowners, whose loans are “underwater,” may [...]