Comments on: LA Real Estate Advice: Will a Short Sale Save Your Credit http://www.mywestsidela.com/la-real-estate-advice-will-a-short-sale-save-your-credit/ Westside LA Real Estate Tips & Advice Mon, 03 Jan 2011 09:00:49 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Jeff http://www.mywestsidela.com/la-real-estate-advice-will-a-short-sale-save-your-credit/comment-page-1/#comment-967 Jeff Sat, 12 Jun 2010 00:33:04 +0000 http://www.mywestsidela.com/?p=1208#comment-967 I understand the hit both the foreclosure and the shortsale apply to ones credit. What I hear is not that is saves or does not damage (shortsale) your credit, but that it does not stay on your report as long. Seems I read something recently from an article released by Wells Fargo that said about 2yrs for a shortsale and 7 yrs for a foreclosure? If this is true, then the hit being alomst the same is far out weighed by the length of time reduction going the shortsale route. Is this accurate. Thanks. ps...your article was quite good and enjoyed. I am concerned about the overtones that one might extract from this about not making payments, then living rent or mtg free for a length of time, up to a year! This really feels like a bit of misleading and taking advantage of the process. Thanks I understand the hit both the foreclosure and the shortsale apply to ones credit. What I hear is not that is saves or does not damage (shortsale) your credit, but that it does not stay on your report as long.
Seems I read something recently from an article released by Wells Fargo that said about 2yrs for a shortsale and 7 yrs for a foreclosure?
If this is true, then the hit being alomst the same is far out weighed by the length of time reduction going the shortsale route.
Is this accurate.
Thanks.

ps…your article was quite good and enjoyed. I am concerned about the overtones that one might extract from this about not making payments, then living rent or mtg free for a length of time, up to a year! This really feels like a bit of misleading and taking advantage of the process.
Thanks

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