What is the effect on your credit score when you sell short on your mortgage?
An Anonymous User asked:
I have heard your credit score drops 200 points, is that true?
I have heard your credit score drops 200 points, is that true?
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Yes your score will drop but not 200 points for a short sale. Your credit score will drop at least 50 points and up to 100 points for a short sale. Your score will drop at least 100 points and up to 200 points for a foreclosure.