The Effects Of A Short Sale On Your Credit Score-An Actual Phoenix Short Sale Case Study

As a Phoenix short sale Realtor®, the question I'm most often asked is "How much will a short sale effect my credit score"? My usual response is, "I have yet to have a client share verifiable information to me to give you a good answer. I've heard rumors, read tons of opinions, but have yet to see actual verifiable evidence of how much it can effect your credit score".

Today, one of my clients called me, "giddy" about his credit score.  We completed a short sale of his home in November/2009.  He was kind enough to send me a graph of the changes to his score over the past year.

The graph represents the history of his credit score from November/2009 to present.  According to him, before missing any payments, his score was 740.  It dropped to a low of 644, and is back up to 700 today.  He also noted that it got as high as 720 in July/2010, but he has purchased two cars since then, dropping his score down to 700.  Click on the graph to get a full-sized view.

Now, we all know that each case is different, and the last thing I want to do is portray that these kind of results are to be expected in all cases.

All I know is that I have an excited client who can't wait to go out and look for another home in November/2011!

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Bob Hertzog

Summit Home Consultants

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Copyright © By Bob Hertzog 2010 *The Effects Of A Short Sale On Your Credit Score-An Actual Phoenix Short Sale Case Study*