Florida – We recently received an e-mail from a recent short sale seller. We had helped him short sale his house.
Here is his e-mail.
“Hi, I hope all is well. I am getting back to you on my credit scores. My score went from 663 in Feb. to 770 in June.
I know this is counter intuitive but must be because my outstanding debts were reduced. I am happy with this. Julio. “
I agree with him. I think the reduction in debt actually helped his credit score. We see so many people that are leveraged over their head. They keep paying everything on time because they don’t want back credit.
But, they can’t get a loan because they owe too much money. So even thought their credit is good, they still can’t get a loan. That’s crazy! Don’t you agree?
Our theory is that this guy falls into that category. When he short sold his house, it actually helped out his credit rating because it erased so much debt.
Yes, how much debt you have does make up part of your credit rating. The credit bureaus won’t tell exactly how much it affects your score. But, it does affect it.
So, a short sale might actually help your credit score. E-mail us if you know of any other stories like this.
Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at info@FloridaConnectsInc.com . I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call us in Fort Lauderdale at (954) 586-3930 or in Tallahassee at (850) 364-3946.
Thanks for reading this, Annett T. Block.
Annett is a Real Estate Agent/ Real Estate Broker at Florida Connects Incorporated.
FLL Phone: (954) 543-1794
View My homes for sale at www.floridaconnectsinc.com
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
The views expressed here are Annett’s personal views and do not reflect the views of Florida Connects Incorporated.
This information on Yes, a Florida Short Sale May Actually Help Your Credit is provided as a courtesy to our viewers to help them make informed decisions.