Pre-foreclosure sales accounted for 12.1 percent of all sales, while bank-owned sales made up 19.2 percent. The average sales price on distressed homes was $164,217, dipping from $165,272 in the first quarter and down nearly 5 percent from a year ago. Prices were about 32 percent below the average sales price of homes not in foreclosure.
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What does short sale, foreclosure, or deed in lieu can really do to your credit score.. In regards to a short sale, there may be some lenders who lean more positively towards a short sale over a foreclosure, still, your credit score is affected equally.
Home Multiple, current credit cards equal higher FICO. Multiple, current credit cards equal higher fico.. short sales and foreclosures equally degrade FICO scores.
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Short sales and foreclosures equally degrade fico scores expect the short sale to impact your credit score. While many individual lenders might regard a short sale as superior to a foreclosure, they have an equal effect on your FICO score-and that’s according to the company that invented FICO scores, Fair isaac. bad debts fall off your credit.
FICO will not be higher if homeowners choose "short sale" over foreclosures mortgage delinquency data from the nation’s three major credit bureaus was used to make this decision Potential borrowers with short-sales will have FICO scores in the 575-to-595 range at one credit bureau This is the same as having a foreclosure on.
According to National Mortgage e-Alert, Short Sales, Foreclosures or Deed in lieu, does not make any difference. FICO treats them the same way for purposes of reducing the credit score. However, the higher your starting score, the more dramatic the effect.
Because both a foreclosure and short sale involve delinquent mortgage payments, their affect on credit is equally severe. Lenders report both events as "accounts not paid as agreed," My FICO says. As such, both diminish scores by 85 points to 160 points, with better scores.
MBA: Rising rental costs may drive home sales up Tight Rental Conditions and Rising Rents. Given the ultra-high real estate prices, first time buyers simply can't come up with the. In this post, lets explore the main factors that will drive the California housing.. Sacramento was a bright spot with sales up 5.5% and average price up $20000 to $385,000.
FICO, the leading credit scoring company, has found that people who have savings, maintain higher balances in their checking accounts and don’t overdraft may be good credit risks. The company is.
Foreclosure, short sale or deed-in-lieu: 85. (FICO scores range from 300 to 850.). Sweet said credit bureaus generally slash scores equally for those three resolutions to someone losing.