Does anyone know how a short sale affect onces credit? How is it reported on a credit report? Also, how long does it take to remedy off the credit report?
I’m sure it can be different with each situation, but in general it does show up on your credit report as not paid in full. It effects your credit but nearly as bad as a foreclosure. I worked with a client who went through a short sale on their home and then was able to buy another home 14 months later. They, of course, made sure everything else on their credit report looked good.