Short Sale on Your Credit Report

[skitahoe]

Does anybody know if a short sale on your credit will ruin your chances in the background? Just for information, it's because my wife was laid off and hasn't found work yet. Any insight from those who sit on the other side of the process would be greatly appreciated.

[fire5555]

Not Normaly

Just try to get finances in order

[thorocotomy]

Not so much from a FF hiring perspective but from an older guy who has been a round a time or two>>>

...Just try to get finances in order

What he said.

A short sell is much better than a foreclosure but it is still a negative mark on your credit report. That report is often used as a metric to gauge how responsible and reliable a person is.

If you haven't already, you would be wise to run your own credit history through the big three reporting agencies IOT find out what's being reported on you. For anything derogatory and older than 7 years you can write a letter to the reporting agency and have it/them removed from your records; you need to do this for each of the three it is being reported on, not just one. Also from time to time other peoples indiscretions end up on someone else's report; obviously those things need to come off as well.

While it may not be something that inhibits you getting a job your credit report is one of those things that you may have to but not want to explain. The less the better...

HTH,

Thor

[skitahoe]

Everything else is in order. We don't owe money anywhere and had scores in the high 700's prior. Thanks for the input. I was just wondering if one blemish (albeit a bigger one) would sink me.